Ameritas Advisory Services LLC Has $101,000 Stock Position in Garmin Ltd. $GRMN

Ameritas Advisory Services LLC cut its holdings in Garmin Ltd. (NYSE:GRMN) by 88.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 482 shares of the scientific and technical instruments company’s stock after selling 3,632 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Garmin were worth $101,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Groupe la Francaise acquired a new stake in shares of Garmin during the first quarter valued at about $33,000. TFC Financial Management Inc. increased its holdings in shares of Garmin by 1,633.3% during the first quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 147 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Garmin during the first quarter valued at approximately $34,000. Zions Bancorporation National Association UT bought a new stake in Garmin during the first quarter worth $38,000. Finally, Garde Capital Inc. bought a new stake in Garmin during the first quarter worth $40,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Performance

GRMN stock opened at $248.18 on Friday. Garmin Ltd. has a fifty-two week low of $160.95 and a fifty-two week high of $261.69. The business’s 50-day moving average is $238.90 and its two-hundred day moving average is $216.49. The company has a market cap of $47.77 billion, a price-to-earnings ratio of 30.60, a P/E/G ratio of 2.81 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company earned $1.58 earnings per share. Garmin’s revenue was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Equities analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Insider Activity at Garmin

In other news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total value of $2,371,760.96. Following the transaction, the insider owned 36,092 shares of the company’s stock, valued at $8,390,668.16. This trade represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GRMN shares. Barclays reissued an “underweight” rating and issued a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Tigress Financial raised their price target on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 30th. Morgan Stanley raised their price objective on Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a report on Friday, September 19th. JPMorgan Chase & Co. lifted their price target on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $228.75.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.