Garmin Ltd. (NYSE:GRMN) Shares Bought by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 38.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,304 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,464 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Garmin were worth $682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in GRMN. Wetzel Investment Advisors Inc. purchased a new stake in Garmin in the 4th quarter valued at approximately $26,000. Blue Trust Inc. increased its position in shares of Garmin by 35.2% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after acquiring an additional 99 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Garmin during the 4th quarter worth approximately $51,000. Headinvest LLC purchased a new position in Garmin in the 3rd quarter valued at about $41,000. Finally, Lindbrook Capital LLC increased its holdings in Garmin by 32.0% during the 4th quarter. Lindbrook Capital LLC now owns 466 shares of the scientific and technical instruments company’s stock worth $60,000 after purchasing an additional 113 shares during the last quarter. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays raised 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. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday. Bank of America upped their price target on Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Tigress Financial reissued a “strong-buy” rating and issued a $175.00 target price (up previously from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. Finally, Barrington Research upped their price target on shares of Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. Six analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $153.50.

Garmin Stock Up 0.2 %

Shares of NYSE GRMN traded up $0.34 during mid-day trading on Friday, reaching $165.67. 331,453 shares of the company were exchanged, compared to its average volume of 955,345. The stock has a market capitalization of $31.82 billion, a P/E ratio of 23.32, a P/E/G ratio of 5.36 and a beta of 0.99. The company’s 50-day simple moving average is $144.62 and its 200-day simple moving average is $128.87. Garmin Ltd. has a twelve month low of $99.56 and a twelve month high of $166.26.

Garmin (NYSE:GRMN) last issued its quarterly earnings data 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 company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. Garmin had a return on equity of 17.26% and a net margin of 24.96%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $1.02 earnings per share. As a group, equities research analysts expect that Garmin Ltd. will post 5.45 EPS for the current year.

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, December 13th. Garmin’s dividend payout ratio is currently 41.18%.

Insider Transactions at Garmin

In related news, CEO Clifton A. Pemble sold 1,622 shares of Garmin stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.19, for a total transaction of $217,656.18. Following the completion of the transaction, the chief executive officer now directly owns 159,319 shares of the company’s stock, valued at approximately $21,379,016.61. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $134.19, for a total transaction of $217,656.18. Following the completion of the sale, the chief executive officer now directly owns 159,319 shares of the company’s stock, valued at $21,379,016.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Douglas G. Boessen sold 5,267 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $134.56, for a total value of $708,727.52. Following the sale, the chief financial officer now directly owns 30,360 shares in the company, valued at $4,085,241.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,476 shares of company stock worth $14,166,944. Insiders own 19.89% of the company’s stock.

About Garmin

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.