Apollon Wealth Management LLC Buys 467 Shares of Garmin Ltd. (NYSE:GRMN)

Apollon Wealth Management LLC raised its position in shares of Garmin Ltd. (NYSE:GRMN) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Artisan Partners Limited Partnership raised its stake in Garmin by 2.5% in the third quarter. Artisan Partners Limited Partnership now owns 7,246,834 shares of the scientific and technical instruments company’s stock worth $762,367,000 after buying an additional 176,510 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Garmin by 7.1% during the 3rd quarter. Northern Trust Corp now owns 1,630,148 shares of the scientific and technical instruments company’s stock worth $171,492,000 after purchasing an additional 108,427 shares during the last quarter. Invesco Ltd. boosted its position in Garmin by 10.7% during the third quarter. Invesco Ltd. now owns 1,411,205 shares of the scientific and technical instruments company’s stock valued at $148,459,000 after purchasing an additional 136,929 shares in the last quarter. California Public Employees Retirement System boosted its position in Garmin by 0.7% during the fourth quarter. California Public Employees Retirement System now owns 932,299 shares of the scientific and technical instruments company’s stock valued at $119,838,000 after purchasing an additional 6,858 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Garmin by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 813,137 shares of the scientific and technical instruments company’s stock valued at $85,542,000 after purchasing an additional 33,580 shares during the last quarter. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Stock Performance

NYSE GRMN traded down $0.34 during trading hours on Wednesday, reaching $169.62. The stock had a trading volume of 122,980 shares, compared to its average volume of 950,921. Garmin Ltd. has a 52-week low of $99.61 and a 52-week high of $170.87. The stock has a market cap of $32.58 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 5.31 and a beta of 0.99. The stock has a fifty day moving average of $146.59 and a 200 day moving average of $130.52.

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

Garmin Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently weighed in on GRMN shares. Bank of America raised 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. Barrington Research increased their price target on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Tigress Financial restated a “strong-buy” rating and set a $175.00 price target (up previously from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $153.50.

Insiders Place Their Bets

In related news, Director Jonathan Burrell sold 15,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the sale, the director now owns 758,834 shares in the company, valued at $106,236,760. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Jonathan Burrell sold 15,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $140.00, for a total value of $2,100,000.00. Following the transaction, the director now directly owns 758,834 shares of the company’s stock, valued at $106,236,760. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Clifton A. Pemble sold 1,622 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $134.19, for a total value of $217,656.18. Following the completion of the sale, the chief executive officer now directly owns 159,319 shares of the company’s stock, valued at approximately $21,379,016.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,476 shares of company stock worth $14,166,944. Corporate insiders own 19.54% of the company’s stock.

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.