Alpine Woods Capital Investors LLC Has $1.93 Million Stock Position in Garmin Ltd. $GRMN

Alpine Woods Capital Investors LLC trimmed its stake in shares of Garmin Ltd. (NYSE:GRMN) by 10.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,263 shares of the scientific and technical instruments company’s stock after selling 1,095 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Garmin were worth $1,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of GRMN. Groupe la Francaise bought a new position in shares of Garmin in the first quarter valued at approximately $33,000. TFC Financial Management Inc. raised its stake in shares of Garmin by 1,633.3% in 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 during the last quarter. Wayfinding Financial LLC bought a new position in shares of Garmin in the first quarter valued at approximately $34,000. Zions Bancorporation National Association UT bought a new position in shares of Garmin in the first quarter valued at approximately $38,000. Finally, Garde Capital Inc. bought a new position in shares of Garmin in the first quarter valued at approximately $40,000. Institutional investors own 81.60% of the company’s stock.

Insider Activity

In other news, insider Cheng-Wei Wang sold 10,202 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the transaction, the insider owned 36,092 shares of the company’s stock, valued at $8,390,668.16. The trade was a 22.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GRMN. JPMorgan Chase & Co. lifted their target price on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Morgan Stanley lifted their target price on shares of Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a research note on Friday, September 19th. Barclays restated 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. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Finally, Tigress Financial boosted their price objective on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $228.75.

Garmin Stock Performance

GRMN opened at $251.35 on Tuesday. The company has a fifty day moving average price of $239.42 and a two-hundred day moving average price of $216.75. Garmin Ltd. has a 52 week low of $160.95 and a 52 week high of $261.69. The firm has a market capitalization of $48.38 billion, a PE ratio of 30.99, a P/E/G ratio of 2.72 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.27. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The firm’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 forecast that Garmin Ltd. will post 7.8 EPS for the current year.

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.