Sage Mountain Advisors LLC Buys 329 Shares of Garmin Ltd. (NYSE:GRMN)

Sage Mountain Advisors LLC grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 25.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,619 shares of the scientific and technical instruments company’s stock after acquiring an additional 329 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Garmin were worth $334,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of Garmin during the fourth quarter valued at $26,000. Pinnacle Bancorp Inc. bought a new position in shares of Garmin during the fourth quarter valued at $29,000. Larson Financial Group LLC increased its holdings in shares of Garmin by 578.6% during the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 162 shares in the last quarter. SOA Wealth Advisors LLC. bought a new position in shares of Garmin during the fourth quarter valued at $37,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Garmin during the third quarter valued at $39,000. 81.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GRMN. JPMorgan Chase & Co. raised their price target on Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Barclays boosted their target price on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Morgan Stanley raised Garmin to a “sell” rating and boosted their target price for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Finally, Tigress Financial boosted their target price on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $210.80.

Garmin Stock Up 1.2 %

Garmin stock opened at $215.78 on Thursday. The business has a 50-day simple moving average of $216.76 and a two-hundred day simple moving average of $200.26. The company has a market cap of $41.52 billion, a P/E ratio of 29.52, a P/E/G ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a 52-week low of $138.86 and a 52-week high of $246.50.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.51. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 EPS. Research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.67%. Garmin’s dividend payout ratio is currently 41.04%.

Insider Buying and Selling at Garmin

In related news, VP Susan Lyman sold 2,829 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $215.51, for a total transaction of $609,677.79. Following the completion of the transaction, the vice president now directly owns 8,432 shares in the company, valued at approximately $1,817,180.32. The trade was a 25.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Patrick Desbois sold 6,911 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 63,048 shares of the company’s stock, valued at approximately $14,321,353.20. This trade represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,103 shares of company stock worth $5,852,364 in the last three months. 19.54% of the stock is currently owned by company insiders.

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.