FSM Wealth Advisors LLC Buys 72 Shares of Garmin Ltd. (NYSE:GRMN)

FSM Wealth Advisors LLC grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,497 shares of the scientific and technical instruments company’s stock after buying an additional 72 shares during the period. FSM Wealth Advisors LLC’s holdings in Garmin were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Garmin during the fourth quarter worth about $127,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Garmin by 46.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 89,715 shares of the scientific and technical instruments company’s stock worth $19,480,000 after purchasing an additional 28,543 shares during the period. US Bancorp DE lifted its holdings in shares of Garmin by 14.4% during the 4th quarter. US Bancorp DE now owns 8,521 shares of the scientific and technical instruments company’s stock valued at $1,758,000 after purchasing an additional 1,074 shares in the last quarter. Korea Investment CORP lifted its holdings in shares of Garmin by 7.6% during the 4th quarter. Korea Investment CORP now owns 73,265 shares of the scientific and technical instruments company’s stock valued at $15,112,000 after purchasing an additional 5,200 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Garmin by 4.9% during the 4th quarter. American Century Companies Inc. now owns 60,280 shares of the scientific and technical instruments company’s stock valued at $12,433,000 after purchasing an additional 2,841 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

Shares of Garmin stock opened at $213.42 on Thursday. The business’s 50 day simple moving average is $201.28 and its 200 day simple moving average is $206.91. Garmin Ltd. has a 52-week low of $158.90 and a 52-week high of $246.50. The firm has a market cap of $41.09 billion, a PE ratio of 28.08, a P/E/G ratio of 2.37 and a beta of 0.97.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.01). The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. Garmin had a net margin of 22.76% and a return on equity of 19.21%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.42 EPS. As a group, equities research analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 16th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.69%. Garmin’s dividend payout ratio (DPR) is 47.37%.

Insider Buying and Selling at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,899 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the transaction, the chief executive officer owned 141,626 shares of the company’s stock, valued at $28,785,484.50. The trade was a 5.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.38% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GRMN shares. Barclays cut their price objective on Garmin from $188.00 to $152.00 and set an “underweight” rating on the stock in a report on Wednesday, April 30th. Morgan Stanley lifted their price objective on Garmin from $159.00 to $172.00 and gave the company an “underweight” rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. cut their price objective on Garmin from $220.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Two equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $206.00.

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.