Avantax Planning Partners Inc. Trims Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Avantax Planning Partners Inc. decreased its position in shares of Garmin Ltd. (NYSE:GRMN) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,047 shares of the scientific and technical instruments company’s stock after selling 115 shares during the period. Avantax Planning Partners Inc.’s holdings in Garmin were worth $392,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GRMN. Wetzel Investment Advisors Inc. purchased a new stake in Garmin during the fourth quarter valued at $26,000. Frazier Financial Advisors LLC purchased a new position in shares of Garmin during the fourth quarter valued at approximately $33,000. Blue Trust Inc. grew its stake in shares of Garmin by 35.2% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock valued at $49,000 after buying an additional 99 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Garmin in the fourth quarter worth approximately $51,000. Finally, Headinvest LLC bought a new stake in shares of Garmin during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GRMN shares. Barclays increased their target price on Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Tigress Financial increased their price target on Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Tuesday, May 14th. Bank of America lowered shares of Garmin from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $165.00 to $150.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Garmin currently has a consensus rating of “Hold” and an average price target of $156.83.

Garmin Trading Up 0.7 %

Shares of Garmin stock traded up $1.08 during trading hours on Friday, hitting $163.81. 541,643 shares of the company were exchanged, compared to its average volume of 850,781. The business has a 50-day moving average of $153.33 and a 200-day moving average of $135.78. Garmin Ltd. has a 1 year low of $99.61 and a 1 year high of $171.64. The stock has a market capitalization of $31.46 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 3.51 and a beta of 0.99.

Garmin (NYSE:GRMN) last released 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 company 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%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business earned $1.02 EPS. As a group, research analysts anticipate that Garmin Ltd. will post 5.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.19, for a total transaction of $217,656.18. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $146.15, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Clifton A. Pemble sold 1,622 shares of the 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 transaction, the chief executive officer now directly owns 159,319 shares in the company, valued at approximately $21,379,016.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,476 shares of company stock worth $14,166,944. Insiders own 19.54% of the company’s stock.

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.