Financial Advocates Investment Management Sells 555 Shares of Garmin Ltd. $GRMN

Financial Advocates Investment Management trimmed its stake in Garmin Ltd. (NYSE:GRMN) by 9.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 5,034 shares of the scientific and technical instruments company’s stock after selling 555 shares during the period. Financial Advocates Investment Management’s holdings in Garmin were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of GRMN. Quaker Wealth Management LLC increased its position in Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after buying an additional 264 shares in the last quarter. Groupe la Francaise bought a new position in shares of Garmin during the 1st quarter valued at approximately $33,000. Zions Bancorporation National Association UT purchased a new stake in Garmin in the 1st quarter worth approximately $38,000. SOA Wealth Advisors LLC. raised its stake in Garmin by 27.5% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock worth $56,000 after acquiring an additional 58 shares during the period. Finally, Harbour Investments Inc. lifted its holdings in Garmin by 31.8% during the first quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 64 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Stock Up 0.3%

GRMN opened at $192.90 on Wednesday. The company has a market capitalization of $37.10 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. The firm has a 50-day simple moving average of $228.56 and a two-hundred day simple moving average of $222.46. Garmin Ltd. has a 52 week low of $169.26 and a 52 week high of $261.69.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, hitting analysts’ consensus estimates of $1.99. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, sell-side analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

GRMN has been the subject of a number of analyst reports. Tigress Financial increased their price objective on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Morgan Stanley raised their price target on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Finally, Barclays upped their price objective on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $239.50.

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.