Nomura Holdings Inc. Makes New $398,000 Investment in Garmin Ltd. (NYSE:GRMN)

Nomura Holdings Inc. purchased a new stake in Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,094 shares of the scientific and technical instruments company’s stock, valued at approximately $398,000.

A number of other institutional investors have also recently modified their holdings of GRMN. Kestra Advisory Services LLC boosted its holdings in Garmin by 61.3% during the third quarter. Kestra Advisory Services LLC now owns 7,535 shares of the scientific and technical instruments company’s stock worth $793,000 after buying an additional 2,864 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Garmin by 6.6% during the 3rd quarter. Rafferty Asset Management LLC now owns 12,514 shares of the scientific and technical instruments company’s stock worth $1,316,000 after acquiring an additional 777 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Garmin by 42.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 125,389 shares of the scientific and technical instruments company’s stock worth $13,191,000 after acquiring an additional 37,532 shares during the period. FMR LLC increased its stake in Garmin by 11.5% in the 3rd quarter. FMR LLC now owns 306,175 shares of the scientific and technical instruments company’s stock valued at $32,210,000 after purchasing an additional 31,494 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in Garmin by 5.9% during the third quarter. LPL Financial LLC now owns 39,544 shares of the scientific and technical instruments company’s stock worth $4,160,000 after purchasing an additional 2,212 shares during the last quarter. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Garmin Stock Up 0.9 %

Shares of Garmin stock opened at $161.45 on Friday. The firm has a market cap of $31.01 billion, a PE ratio of 22.77, a P/E/G ratio of 3.45 and a beta of 0.98. Garmin Ltd. has a fifty-two week low of $99.61 and a fifty-two week high of $171.64. The business’s fifty day moving average is $159.47 and its two-hundred day moving average is $141.84.

Garmin (NYSE:GRMN) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.25 billion. Garmin had a return on equity of 17.26% and a net margin of 24.96%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the company earned $1.02 EPS. Equities research analysts anticipate that Garmin Ltd. will post 5.77 EPS for the current year.

Garmin Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GRMN shares. Barclays raised their price target on Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Bank of America cut shares of Garmin from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $165.00 to $150.00 in a research note on Wednesday, May 22nd. StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a research note on Wednesday. Tigress Financial raised their price target on Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. increased their price objective on Garmin from $155.00 to $175.00 and gave the company 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $156.83.

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.