Waverly Advisors LLC Invests $231,000 in Garmin Ltd. (NYSE:GRMN)

Waverly Advisors LLC acquired a new stake in Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,120 shares of the scientific and technical instruments company’s stock, valued at approximately $231,000.

Several other large investors have also bought and sold shares of GRMN. Golden State Wealth Management LLC bought a new position in Garmin in the fourth quarter valued at about $26,000. Aster Capital Management DIFC Ltd increased its holdings in Garmin by 864.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 121 shares in the last quarter. SOA Wealth Advisors LLC. bought a new stake in Garmin in the fourth quarter worth approximately $37,000. Kentucky Trust Co bought a new stake in Garmin in the fourth quarter worth approximately $41,000. Finally, Venturi Wealth Management LLC grew its stake in Garmin by 67.7% in the fourth quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company’s stock valued at $43,000 after acquiring an additional 84 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Clifton A. Pemble sold 7,202 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the sale, the chief executive officer now directly owns 149,525 shares in the company, valued at $33,963,108.50. This represents a 4.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Patrick Desbois sold 6,911 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.15, for a total value of $1,569,833.65. Following the sale, the chief operating officer now owns 63,048 shares of the company’s stock, valued at $14,321,353.20. This represents a 9.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,342 shares of company stock worth $5,486,094. 15.38% of the stock is currently owned by insiders.

Garmin Stock Performance

NYSE:GRMN opened at $200.52 on Tuesday. Garmin Ltd. has a 52-week low of $158.38 and a 52-week high of $246.50. The firm has a market cap of $38.61 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.36 and a beta of 0.99. The business’s fifty day moving average is $197.32 and its 200 day moving average is $208.43.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.01). Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. Garmin’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Garmin from $220.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Morgan Stanley boosted their price objective on Garmin from $159.00 to $172.00 and gave the stock an “underweight” rating in a research report on Thursday, May 1st. Tigress Financial boosted their price objective on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. Finally, Barclays lowered their target price on Garmin from $188.00 to $152.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $206.00.

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.