Prospera Financial Services Inc Sells 1,941 Shares of Garmin Ltd. $GRMN

Prospera Financial Services Inc cut its holdings in Garmin Ltd. (NYSE:GRMN) by 27.9% during the 2nd quarter, Holdings Channel reports. The firm owned 5,008 shares of the scientific and technical instruments company’s stock after selling 1,941 shares during the period. Prospera Financial Services Inc’s holdings in Garmin were worth $1,045,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GRMN. Vanguard Group Inc. raised its holdings in Garmin by 2.0% in 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 purchasing an additional 357,458 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Garmin by 9.0% during the first quarter. Invesco Ltd. now owns 1,862,153 shares of the scientific and technical instruments company’s stock valued at $404,329,000 after purchasing an additional 153,267 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Garmin by 79.3% in the first 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 acquiring an additional 700,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Garmin by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,210,827 shares of the scientific and technical instruments company’s stock worth $262,907,000 after purchasing an additional 211,731 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Garmin by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 892,606 shares of the scientific and technical instruments company’s stock worth $193,812,000 after buying an additional 2,768 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

NYSE:GRMN opened at $198.35 on Thursday. The stock has a 50-day simple moving average of $236.92 and a two-hundred day simple moving average of $222.27. The firm has a market capitalization of $38.15 billion, a PE ratio of 24.43, a P/E/G ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.99. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. Equities analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the transaction, the insider directly owned 36,092 shares in the company, valued at $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays increased their price objective on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Tigress Financial upped their price objective on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. increased their target price on Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Finally, Morgan Stanley upped their price target on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $239.50.

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.