Garmin Ltd. (NYSE:GRMN) Shares Purchased by Janiczek Wealth Management LLC

Janiczek Wealth Management LLC raised its position in shares of Garmin Ltd. (NYSE:GRMN) by 31.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,242 shares of the scientific and technical instruments company’s stock after purchasing an additional 784 shares during the quarter. Janiczek Wealth Management LLC’s holdings in Garmin were worth $483,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Key Client Fiduciary Advisors LLC bought a new position in Garmin in the 1st quarter worth $220,000. Hoxton Planning & Management LLC bought a new position in Garmin in the 1st quarter valued at $228,000. Gateway Investment Advisers LLC bought a new stake in Garmin during the 1st quarter worth about $516,000. Morton Capital Management LLC CA acquired a new position in shares of Garmin during the first quarter worth approximately $223,000. Finally, Unison Advisors LLC lifted its holdings in Garmin by 0.9% during the 1st quarter. Unison Advisors LLC now owns 27,523 shares of the scientific and technical instruments company’s stock worth $4,097,000 after buying an additional 240 shares in the last quarter. Institutional investors and hedge funds own 73.41% of the company’s stock.

Garmin Stock Up 0.1 %

Shares of Garmin stock traded up $0.16 during trading hours on Thursday, reaching $161.32. 139,300 shares of the stock traded hands, compared to its average volume of 864,367. Garmin Ltd. has a one year low of $99.61 and a one year high of $171.64. The firm has a market capitalization of $30.99 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 3.45 and a beta of 0.98. The company has a 50 day moving average price of $160.25 and a 200 day moving average price of $142.48.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.42. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Garmin had a net margin of 24.96% and a return on equity of 17.26%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.02 earnings per share. Sell-side analysts anticipate that Garmin Ltd. will post 5.77 earnings per share for the current year.

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Friday, March 14th. Garmin’s dividend payout ratio (DPR) is 42.31%.

Insider Activity at Garmin

In other Garmin news, EVP Patrick Desbois sold 4,126 shares of Garmin stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total value of $674,683.52. Following the transaction, the executive vice president now directly owns 58,412 shares of the company’s stock, valued at $9,551,530.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Garmin news, CFO Douglas G. Boessen sold 2,350 shares of Garmin stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $161.63, for a total transaction of $379,830.50. Following the completion of the sale, the chief financial officer now directly owns 28,010 shares in the company, valued at $4,527,256.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick Desbois sold 4,126 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total transaction of $674,683.52. Following the transaction, the executive vice president now directly owns 58,412 shares of the company’s stock, valued at approximately $9,551,530.24. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Tigress Financial upped their target price on shares of Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Tuesday, May 14th. Barclays increased their target price on Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Tuesday. Bank of America lowered shares of Garmin from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $165.00 to $150.00 in a research note on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. upped their price target on Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $156.83.

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.