Advisory Alpha LLC Has $342,000 Stock Position in Garmin Ltd. $GRMN

Advisory Alpha LLC increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 7.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,575 shares of the scientific and technical instruments company’s stock after buying an additional 105 shares during the period. Advisory Alpha LLC’s holdings in Garmin were worth $342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GRMN. GAMMA Investing LLC lifted its position in Garmin by 25,047.9% during the 1st quarter. GAMMA Investing LLC now owns 885,456 shares of the scientific and technical instruments company’s stock worth $192,259,000 after buying an additional 881,935 shares in the last quarter. AQR Capital Management LLC lifted its position in Garmin by 79.3% during the 1st quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company’s stock worth $340,574,000 after buying an additional 700,967 shares in the last quarter. Congress Asset Management Co. lifted its position in Garmin by 673.4% during the 1st quarter. Congress Asset Management Co. now owns 441,318 shares of the scientific and technical instruments company’s stock worth $95,823,000 after buying an additional 384,258 shares in the last quarter. Nuveen LLC acquired a new position in Garmin during the 1st quarter worth about $78,900,000. Finally, Vanguard Group Inc. lifted its position in Garmin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock worth $4,000,656,000 after buying an additional 357,458 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Buying and Selling

In related news, insider Cheng-Wei Wang sold 10,202 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Clifton A. Pemble sold 7,899 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $203.25, for a total value of $1,605,471.75. Following the sale, the chief executive officer directly owned 141,626 shares of the company’s stock, valued at approximately $28,785,484.50. The trade was a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,960 shares of company stock valued at $4,376,918. 15.38% of the stock is owned by corporate insiders.

Garmin Price Performance

Shares of GRMN stock opened at $236.27 on Thursday. The stock has a market cap of $45.48 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 2.62 and a beta of 1.00. The stock has a 50-day moving average of $229.24 and a 200-day moving average of $212.37. Garmin Ltd. has a one year low of $160.94 and a one year high of $246.50.

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

Wall Street Analyst Weigh In

GRMN has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Barclays reissued an “underweight” rating and set a $167.00 price objective (up from $152.00) on shares of Garmin in a report on Wednesday, July 30th. Finally, Morgan Stanley boosted their price objective on Garmin from $172.00 to $186.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. One 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $222.00.

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.