Personal CFO Solutions LLC Takes $275,000 Position in Garmin Ltd. (NYSE:GRMN)

Personal CFO Solutions LLC purchased a new stake in Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,331 shares of the scientific and technical instruments company’s stock, valued at approximately $275,000.

A number of other institutional investors have also modified their holdings of the company. Atlantic Union Bankshares Corp boosted its holdings in shares of Garmin by 15.5% in the 4th quarter. Atlantic Union Bankshares Corp now owns 41,351 shares of the scientific and technical instruments company’s stock valued at $8,529,000 after buying an additional 5,550 shares in the last quarter. Amundi boosted its holdings in shares of Garmin by 19.2% in the 4th quarter. Amundi now owns 494,522 shares of the scientific and technical instruments company’s stock valued at $104,537,000 after buying an additional 79,696 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Garmin by 26.8% in the 4th quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company’s stock valued at $50,000 after buying an additional 51 shares in the last quarter. Lifeworks Advisors LLC boosted its stake in Garmin by 0.3% in the 4th quarter. Lifeworks Advisors LLC now owns 20,169 shares of the scientific and technical instruments company’s stock worth $4,160,000 after purchasing an additional 58 shares in the last quarter. Finally, HM Payson & Co. boosted its stake in Garmin by 28,883.3% in the 4th quarter. HM Payson & Co. now owns 5,217 shares of the scientific and technical instruments company’s stock worth $1,076,000 after purchasing an additional 5,199 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Garmin Trading Down 1.9 %

GRMN opened at $215.11 on Tuesday. Garmin Ltd. has a 12-month low of $138.86 and a 12-month high of $246.50. The firm has a market capitalization of $41.39 billion, a PE ratio of 29.43, a P/E/G ratio of 1.36 and a beta of 0.96. The firm has a 50 day moving average of $216.43 and a two-hundred day moving average of $199.91.

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 analysts’ consensus estimates of $1.90 by $0.51. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the firm posted $1.72 EPS. Garmin’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Morgan Stanley upgraded shares of Garmin to a “sell” rating and lifted their target price for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Tigress Financial lifted their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, Barclays lifted their target price on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $210.80.

Insider Activity

In other news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Desbois sold 6,911 shares of Garmin stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the transaction, the chief operating officer now directly owns 63,048 shares of the company’s stock, valued at approximately $14,321,353.20. This trade represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,274 shares of company stock valued at $5,242,686 in the last three months. 19.54% of the stock is currently owned by corporate insiders.

Garmin 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.