Garmin Ltd. (NYSE:GRMN) Stake Raised by Wealthfront Advisers LLC

Wealthfront Advisers LLC grew its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,082 shares of the scientific and technical instruments company’s stock after buying an additional 2,778 shares during the period. Wealthfront Advisers LLC’s holdings in Garmin were worth $5,998,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its holdings in shares of Garmin by 1.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock valued at $591,000 after buying an additional 49 shares during the last quarter. Curbstone Financial Management Corp raised its holdings in Garmin by 1.3% during the fourth quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company’s stock worth $802,000 after purchasing an additional 50 shares in the last quarter. Larson Financial Group LLC raised its holdings in Garmin by 26.8% during the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 51 shares in the last quarter. Addison Advisors LLC raised its holdings in Garmin by 11.1% during the fourth quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company’s stock worth $108,000 after purchasing an additional 52 shares in the last quarter. Finally, HB Wealth Management LLC raised its holdings in Garmin by 1.4% during the fourth quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock worth $788,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the sale, the chief executive officer now directly owns 149,525 shares of the company’s stock, valued at $33,963,108.50. The trade was a 4.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,103 shares of company stock valued at $5,852,364 in the last three months. 19.54% of the stock is currently owned by company insiders.

Garmin Stock Performance

Garmin stock opened at $215.78 on Thursday. The firm has a market cap of $41.52 billion, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a 1 year low of $138.86 and a 1 year high of $246.50. The firm’s 50 day moving average price is $216.76 and its two-hundred day moving average price is $200.26.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.51. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.72 earnings per share. As a group, equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s payout ratio is 41.04%.

Analyst Upgrades and Downgrades

GRMN has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Morgan Stanley raised Garmin to a “sell” rating and boosted their target price for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Tigress Financial boosted their target price on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 26th. Finally, Barclays boosted their target price on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and a consensus target price of $210.80.

Garmin Company Profile

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.