V Wealth Advisors LLC lessened its stake in Garmin Ltd. (NASDAQ:GRMN) by 32.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,442 shares of the scientific and technical instruments company’s stock after selling 2,100 shares during the quarter. V Wealth Advisors LLC’s holdings in Garmin were worth $434,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of GRMN. Lowe Wealth Advisors LLC acquired a new position in Garmin in the first quarter valued at about $30,000. Capital Square LLC acquired a new position in Garmin during the first quarter worth about $34,000. Quadrant Capital Group LLC raised its stake in Garmin by 169.0% during the fourth quarter. Quadrant Capital Group LLC now owns 382 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 240 shares in the last quarter. WASHINGTON TRUST Co acquired a new position in Garmin during the first quarter worth about $36,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Garmin during the first quarter worth about $36,000. 46.89% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on GRMN shares. BidaskClub raised Garmin from a “sell” rating to a “hold” rating in a research note on Friday, May 29th. Cfra lowered their target price on Garmin from $104.00 to $95.00 and set a “hold” rating for the company in a research note on Wednesday, April 29th. Colliers Secur. raised Garmin from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Monday, June 15th. JPMorgan Chase & Co. upped their price objective on Garmin from $101.00 to $110.00 in a research note on Thursday. Finally, Morgan Stanley upped their price objective on Garmin from $77.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Garmin has an average rating of “Hold” and a consensus target price of $95.43.
Garmin stock opened at $98.59 on Friday. The business has a 50 day moving average of $97.13 and a 200-day moving average of $89.16. Garmin Ltd. has a 1 year low of $61.04 and a 1 year high of $105.58. The company has a market capitalization of $19.10 billion, a P/E ratio of 22.83, a P/E/G ratio of 4.22 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.80 and a quick ratio of 2.74.
Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.53. Garmin had a return on equity of 17.77% and a net margin of 24.82%. The business had revenue of $870.00 million for the quarter, compared to analysts’ expectations of $666.68 million. During the same period in the prior year, the business posted $1.16 earnings per share. The firm’s revenue was down 8.9% on a year-over-year basis. Equities analysts anticipate that Garmin Ltd. will post 3.22 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 31st. Investors of record on Monday, March 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.47%. The ex-dividend date is Friday, March 12th. Garmin’s payout ratio is presently 54.83%.
Garmin Company Profile
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.
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