VCI Wealth Management LLC Has $1.14 Million Holdings in Garmin Ltd. $GRMN

VCI Wealth Management LLC lifted its position in shares of Garmin Ltd. (NYSE:GRMN) by 11.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,478 shares of the scientific and technical instruments company’s stock after buying an additional 568 shares during the quarter. VCI Wealth Management LLC’s holdings in Garmin were worth $1,143,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Kestra Private Wealth Services LLC increased its position in shares of Garmin by 18.7% during the first quarter. Kestra Private Wealth Services LLC now owns 8,559 shares of the scientific and technical instruments company’s stock worth $1,858,000 after buying an additional 1,347 shares during the period. Concurrent Investment Advisors LLC boosted its stake in Garmin by 23.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,304 shares of the scientific and technical instruments company’s stock worth $500,000 after acquiring an additional 437 shares in the last quarter. First Hawaiian Bank bought a new position in Garmin during the first quarter worth $1,649,000. Acadian Asset Management LLC boosted its stake in Garmin by 7.2% during the first quarter. Acadian Asset Management LLC now owns 75,428 shares of the scientific and technical instruments company’s stock worth $16,368,000 after acquiring an additional 5,089 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in Garmin by 255.2% during the first quarter. Golden State Wealth Management LLC now owns 444 shares of the scientific and technical instruments company’s stock worth $96,000 after acquiring an additional 319 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Trading Up 0.1%

Garmin stock opened at $249.22 on Tuesday. The firm’s fifty day moving average price is $241.32 and its two-hundred day moving average price is $218.34. Garmin Ltd. has a 1-year low of $160.95 and a 1-year high of $261.69. The firm has a market capitalization of $47.97 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.27. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the firm earned $1.58 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Insider Buying and Selling at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the transaction, the insider directly owned 36,092 shares of the company’s stock, valued at $8,390,668.16. This trade represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 19.54% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on GRMN shares. Tigress Financial increased their target price 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 reissued a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Morgan Stanley increased their target price on shares of Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research note on Friday, September 19th. Barclays reissued an “underweight” rating and set a $167.00 target price (up from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $228.75.

Garmin 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.