Prospera Financial Services Inc Purchases 276 Shares of Garmin Ltd. (NYSE:GRMN)

Prospera Financial Services Inc lifted its position in Garmin Ltd. (NYSE:GRMN) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,290 shares of the scientific and technical instruments company’s stock after purchasing an additional 276 shares during the quarter. Prospera Financial Services Inc’s holdings in Garmin were worth $932,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. LBP AM SA increased its holdings in shares of Garmin by 81.4% in the first quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock worth $1,084,000 after purchasing an additional 3,268 shares during the last quarter. Cetera Investment Advisers grew its position in Garmin by 51.7% in the first quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company’s stock worth $4,227,000 after acquiring an additional 9,681 shares in the last quarter. Algert Global LLC purchased a new position in Garmin in the second quarter worth about $508,000. Dynamic Advisor Solutions LLC purchased a new position in Garmin in the third quarter worth about $695,000. Finally, Trajan Wealth LLC grew its position in Garmin by 9.1% in the third quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock worth $14,498,000 after acquiring an additional 6,878 shares in the last quarter. 73.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

GRMN has been the subject of several recent research reports. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Barclays lifted their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, Tigress Financial boosted their target price on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Garmin presently has an average rating of “Hold” and an average target price of $162.67.

Insider Activity

In related news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the transaction, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The trade was a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,424 shares of company stock valued at $638,159. Corporate insiders own 19.54% of the company’s stock.

Garmin Price Performance

Shares of NYSE:GRMN opened at $210.22 on Friday. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $215.55. The business has a 50 day simple moving average of $182.02 and a two-hundred day simple moving average of $173.65. The firm has a market capitalization of $40.37 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 3.16 and a beta of 0.97.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. The company’s revenue was up 24.1% on a year-over-year basis. Equities research analysts expect that Garmin Ltd. will post 6.88 EPS for the current fiscal year.

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.