Alpine Woods Capital Investors LLC Sells 1,708 Shares of Garmin Ltd. (NYSE:GRMN)

Alpine Woods Capital Investors LLC decreased its position in Garmin Ltd. (NYSE:GRMN) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,779 shares of the scientific and technical instruments company’s stock after selling 1,708 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Garmin were worth $3,255,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GRMN. Assetmark Inc. boosted its holdings in Garmin by 24.6% during the third quarter. Assetmark Inc. now owns 8,005 shares of the scientific and technical instruments company’s stock worth $1,409,000 after buying an additional 1,580 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Garmin by 4.2% during the third quarter. Apollon Wealth Management LLC now owns 13,673 shares of the scientific and technical instruments company’s stock worth $2,407,000 after buying an additional 553 shares during the last quarter. Haverford Trust Co bought a new position in Garmin during the third quarter worth about $229,000. KBC Group NV boosted its holdings in Garmin by 560.8% during the third quarter. KBC Group NV now owns 203,713 shares of the scientific and technical instruments company’s stock worth $35,860,000 after buying an additional 172,883 shares during the last quarter. Finally, Metis Global Partners LLC boosted its holdings in Garmin by 6.8% during the third quarter. Metis Global Partners LLC now owns 9,554 shares of the scientific and technical instruments company’s stock worth $1,682,000 after buying an additional 606 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling at Garmin

In other Garmin 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 value of $609,677.79. Following the sale, the vice president now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,103 shares of company stock worth $5,852,364. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GRMN. JPMorgan Chase & Co. raised their target price on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Barclays raised their target price on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Morgan Stanley upgraded Garmin to a “sell” rating and raised their target price for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Finally, Tigress Financial lifted their price objective on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $210.80.

Garmin Stock Performance

Shares of GRMN opened at $208.95 on Friday. The stock has a 50 day simple moving average of $216.85 and a 200 day simple moving average of $200.32. Garmin Ltd. has a 52-week low of $138.86 and a 52-week high of $246.50. The firm has a market capitalization of $40.20 billion, a PE ratio of 28.58, a P/E/G ratio of 1.36 and a beta of 0.96.

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

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.72%. The ex-dividend date is Friday, March 13th. Garmin’s payout ratio is 41.04%.

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.