Garmin Ltd. (NYSE:GRMN) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC lessened its stake in shares of Garmin Ltd. (NYSE:GRMN) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,591 shares of the scientific and technical instruments company’s stock after selling 515 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Garmin were worth $683,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. acquired a new position in shares of Garmin during the fourth quarter worth about $26,000. Frazier Financial Advisors LLC acquired a new position in Garmin during the 4th quarter worth approximately $33,000. Headinvest LLC purchased a new position in shares of Garmin during the 3rd quarter worth approximately $41,000. Blue Trust Inc. lifted its holdings in shares of Garmin by 35.2% in the 4th quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock valued at $49,000 after buying an additional 99 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Garmin in the fourth quarter worth $51,000. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Garmin Price Performance

GRMN opened at $160.98 on Thursday. The stock has a market capitalization of $30.92 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 3.48 and a beta of 0.98. Garmin Ltd. has a 12 month low of $99.61 and a 12 month high of $171.64. The business has a 50-day moving average of $162.70 and a two-hundred day moving average of $143.86.

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

Garmin Announces Dividend

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

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 2,350 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $161.63, for a total value of $379,830.50. Following the transaction, the chief financial officer now owns 28,010 shares in the company, valued at $4,527,256.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other 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 value of $674,683.52. Following the completion of the sale, the executive vice president now owns 58,412 shares of the company’s stock, valued at $9,551,530.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Douglas G. Boessen sold 2,350 shares of the firm’s 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 sale, the chief financial officer now 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 owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Tigress Financial boosted their target price on Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, May 14th. StockNews.com raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Tuesday. 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. Barclays boosted their target price on shares of Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Garmin presently has an average rating of “Hold” and an average target price of $156.83.

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.