Garmin Ltd. (NYSE:GRMN) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its stake in Garmin Ltd. (NYSE:GRMN) by 56.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,396 shares of the scientific and technical instruments company’s stock after buying an additional 1,221 shares during the period. Sequoia Financial Advisors LLC’s holdings in Garmin were worth $700,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC increased its position in Garmin by 10.6% in the fourth quarter. Wealthfront Advisers LLC now owns 29,082 shares of the scientific and technical instruments company’s stock worth $5,998,000 after buying an additional 2,778 shares during the period. Inspire Advisors LLC grew its stake in shares of Garmin by 4.1% in the fourth quarter. Inspire Advisors LLC now owns 8,181 shares of the scientific and technical instruments company’s stock worth $1,687,000 after purchasing an additional 323 shares in the last quarter. Miller Financial Services LLC bought a new position in shares of Garmin in the fourth quarter worth $637,000. King Luther Capital Management Corp grew its stake in shares of Garmin by 1.7% in the fourth quarter. King Luther Capital Management Corp now owns 9,125 shares of the scientific and technical instruments company’s stock worth $1,882,000 after purchasing an additional 152 shares in the last quarter. Finally, Sage Mountain Advisors LLC grew its stake in shares of Garmin by 25.5% in the fourth quarter. Sage Mountain Advisors LLC now owns 1,619 shares of the scientific and technical instruments company’s stock worth $334,000 after purchasing an additional 329 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on GRMN. Morgan Stanley raised Garmin to a “sell” rating and increased their price target for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. JPMorgan Chase & Co. increased their price target on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Tigress Financial raised their target price on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, Barclays lifted their target price on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $210.80.

Garmin Stock Down 0.7 %

NYSE:GRMN opened at $212.43 on Tuesday. The business’s 50-day moving average price is $217.09 and its 200 day moving average price is $201.06. The firm has a market cap of $40.87 billion, a P/E ratio of 29.06, a PEG ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a 52-week low of $138.86 and a 52-week high of $246.50.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.51. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. Garmin’s revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the business posted $1.72 EPS. Sell-side analysts expect that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 1.69%. Garmin’s payout ratio is presently 41.04%.

Insiders Place Their Bets

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Patrick Desbois sold 6,911 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total value of $1,569,833.65. Following the sale, the chief operating officer now owns 63,048 shares of the company’s stock, valued at $14,321,353.20. The trade was a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,103 shares of company stock worth $5,852,364. 19.54% of the stock is currently owned by company insiders.

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.