Garmin Ltd. (NYSE:GRMN) Shares Bought by abrdn plc

abrdn plc raised its position in Garmin Ltd. (NYSE:GRMN) by 59.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,425 shares of the scientific and technical instruments company’s stock after purchasing an additional 31,413 shares during the quarter. abrdn plc’s holdings in Garmin were worth $10,852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GRMN. CWM LLC boosted its holdings in Garmin by 4.6% in the 3rd quarter. CWM LLC now owns 3,860 shares of the scientific and technical instruments company’s stock valued at $406,000 after purchasing an additional 171 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Garmin by 169.5% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 178 shares during the last quarter. Czech National Bank lifted its holdings in shares of Garmin by 47.8% in the 3rd quarter. Czech National Bank now owns 26,769 shares of the scientific and technical instruments company’s stock worth $2,816,000 after acquiring an additional 8,654 shares during the last quarter. Nova R Wealth Inc. lifted its holdings in shares of Garmin by 1.8% in the 3rd quarter. Nova R Wealth Inc. now owns 12,494 shares of the scientific and technical instruments company’s stock worth $1,314,000 after acquiring an additional 223 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Garmin by 1.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 49,082 shares of the scientific and technical instruments company’s stock worth $5,163,000 after acquiring an additional 563 shares during the last quarter. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Garmin Stock Up 0.2 %

Shares of GRMN opened at $143.03 on Friday. Garmin Ltd. has a fifty-two week low of $94.89 and a fifty-two week high of $149.54. The firm’s 50 day moving average price is $142.08 and its 200 day moving average price is $127.32. The company has a market cap of $27.43 billion, a P/E ratio of 21.32, a PEG ratio of 4.68 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.32. Garmin had a net margin of 24.67% and a return on equity of 16.60%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the firm earned $1.35 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. Research analysts forecast that Garmin Ltd. will post 5.45 earnings per share for the current year.

Garmin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, December 13th. Garmin’s dividend payout ratio is presently 43.52%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a report on Tuesday. Bank of America upped their price objective on shares of Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Tigress Financial restated a “strong-buy” rating and issued a $175.00 price objective (up from $165.00) on shares of Garmin in a report on Tuesday, February 27th. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $139.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Barrington Research upped their price objective on shares of Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Garmin has a consensus rating of “Hold” and a consensus target price of $142.33.

Insider Buying and Selling at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $134.19, for a total value of $217,656.18. Following the sale, 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 legal filing with the SEC, which is available at the SEC website. In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $146.15, for a total value of $2,192,250.00. Following the sale, the director now directly owns 623,834 shares of the company’s stock, valued at approximately $91,173,339.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Clifton A. Pemble sold 1,622 shares of the 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 in the company, valued at $21,379,016.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,476 shares of company stock valued at $14,166,944. Insiders own 19.89% of the company’s stock.

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.