VCI Wealth Management LLC Sells 2,463 Shares of Garmin Ltd. $GRMN

VCI Wealth Management LLC decreased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 24.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,650 shares of the scientific and technical instruments company’s stock after selling 2,463 shares during the quarter. VCI Wealth Management LLC’s holdings in Garmin were worth $1,775,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of Garmin by 31.3% in the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after acquiring an additional 463 shares during the period. NewEdge Advisors LLC increased its position in Garmin by 6.2% during the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock worth $1,278,000 after acquiring an additional 345 shares during the period. Woodline Partners LP raised its stake in Garmin by 40.6% during the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock valued at $2,826,000 after purchasing an additional 3,757 shares during the last quarter. Focus Partners Wealth raised its stake in Garmin by 51.1% during the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock valued at $1,479,000 after purchasing an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its position in Garmin by 17.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock worth $347,000 after purchasing an additional 242 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Garmin Stock Down 1.0%

Shares of Garmin stock opened at $233.02 on Friday. The business has a fifty day simple moving average of $241.80 and a 200 day simple moving average of $229.52. The stock has a market cap of $44.94 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Analysts expect that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GRMN shares. Tigress Financial increased their target price on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Morgan Stanley set a $249.00 price objective on Garmin in a report on Thursday, April 30th. Finally, Barclays cut their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Garmin presently has a consensus rating of “Moderate Buy” and an average target price of $269.40.

Insider Buying and Selling

In other news, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction on Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the transaction, the chief financial officer directly owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of Garmin stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the transaction, the director directly owned 21,277 shares in the company, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.38% of the stock is currently owned by insiders.

About Garmin

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.