Garmin Ltd. (NYSE:GRMN) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its position in Garmin Ltd. (NYSE:GRMN) by 3.3% in the 4th quarter, Holdings Channel reports. The fund owned 14,832 shares of the scientific and technical instruments company’s stock after purchasing an additional 467 shares during the period. Apollon Wealth Management LLC’s holdings in Garmin were worth $1,906,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its holdings in Garmin by 125.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 23,999 shares of the scientific and technical instruments company’s stock valued at $2,525,000 after purchasing an additional 13,350 shares during the last quarter. Independent Advisor Alliance grew its position in shares of Garmin by 5.3% during the third quarter. Independent Advisor Alliance now owns 2,207 shares of the scientific and technical instruments company’s stock worth $232,000 after buying an additional 111 shares in the last quarter. Forsta AP Fonden raised its holdings in Garmin by 2.6% in the third quarter. Forsta AP Fonden now owns 31,200 shares of the scientific and technical instruments company’s stock valued at $3,282,000 after acquiring an additional 800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Garmin by 36.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,586 shares of the scientific and technical instruments company’s stock valued at $6,689,000 after acquiring an additional 16,957 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Garmin by 1.2% during the 3rd quarter. Mackenzie Financial Corp now owns 63,685 shares of the scientific and technical instruments company’s stock worth $6,592,000 after acquiring an additional 748 shares in the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Insider Transactions at Garmin

In other news, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the transaction, the director now directly owns 623,834 shares in the company, valued at $91,173,339.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $134.19, for a total value of $217,656.18. Following the sale, the chief executive officer now owns 159,319 shares of the company’s stock, valued at approximately $21,379,016.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $146.15, for a total value of $2,192,250.00. Following the transaction, the director now owns 623,834 shares of the company’s stock, valued at $91,173,339.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,476 shares of company stock valued at $14,166,944. 19.54% of the stock is currently owned by corporate insiders.

Garmin Stock Down 0.2 %

GRMN stock traded down $0.34 during mid-day trading on Wednesday, reaching $169.62. The company had a trading volume of 122,980 shares, compared to its average volume of 950,921. Garmin Ltd. has a one year low of $99.61 and a one year high of $170.87. The stock’s 50-day simple moving average is $146.59 and its two-hundred day simple moving average is $130.52. The stock has a market capitalization of $32.58 billion, a P/E ratio of 23.95, a P/E/G ratio of 5.31 and a beta of 0.99.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.00 by $0.42. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Garmin had a net margin of 24.96% and a return on equity of 17.26%. Garmin’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 EPS. On average, research analysts forecast that Garmin Ltd. will post 5.58 EPS for the current fiscal year.

Garmin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.77%. Garmin’s payout ratio is 41.18%.

Analysts Set New Price Targets

A number of equities analysts recently commented on GRMN shares. Barclays lifted their price target on Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Tigress Financial reiterated a “strong-buy” rating and issued a $175.00 price target (up from $165.00) on shares of Garmin in a report on Tuesday, February 27th. Barrington Research raised their price objective on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Bank of America lifted their price target on shares of Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Six investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $153.50.

Garmin Company 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.