Garmin Ltd. $GRMN Shares Bought by SOA Wealth Advisors LLC.

SOA Wealth Advisors LLC. raised its holdings in Garmin Ltd. (NYSE:GRMN) by 27.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 269 shares of the scientific and technical instruments company’s stock after acquiring an additional 58 shares during the quarter. SOA Wealth Advisors LLC.’s holdings in Garmin were worth $56,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Garmin by 2.0% in the first quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock valued at $4,000,656,000 after acquiring an additional 357,458 shares during the period. Invesco Ltd. lifted its holdings in Garmin by 9.0% in the first quarter. Invesco Ltd. now owns 1,862,153 shares of the scientific and technical instruments company’s stock valued at $404,329,000 after acquiring an additional 153,267 shares during the period. AQR Capital Management LLC lifted its holdings in Garmin by 79.3% in the first quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company’s stock valued at $340,574,000 after acquiring an additional 700,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Garmin by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,210,827 shares of the scientific and technical instruments company’s stock worth $262,907,000 after buying an additional 211,731 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Garmin by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 892,606 shares of the scientific and technical instruments company’s stock worth $193,812,000 after buying an additional 2,768 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Stock Up 1.0%

NYSE GRMN opened at $257.61 on Friday. Garmin Ltd. has a fifty-two week low of $160.94 and a fifty-two week high of $258.42. The business has a 50 day moving average price of $235.59 and a two-hundred day moving average price of $214.64. The stock has a market cap of $49.59 billion, a PE ratio of 31.76, a P/E/G ratio of 2.80 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.27. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.58 earnings per share. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Sell-side analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the completion of the sale, the insider directly owned 36,092 shares in the company, valued at $8,390,668.16. This trade represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on GRMN. Barclays reaffirmed an “underweight” rating and set a $167.00 price target (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Tigress Financial lifted their price target on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Morgan Stanley lifted their price target on Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $228.75.

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.