Garmin Ltd. (NYSE:GRMN) Shares Purchased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC boosted its stake in shares of Garmin Ltd. (NYSE:GRMN) by 12.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,428 shares of the scientific and technical instruments company’s stock after purchasing an additional 819 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Garmin were worth $1,532,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GRMN. American Century Companies Inc. grew its holdings in shares of Garmin by 5.9% in the second quarter. American Century Companies Inc. now owns 47,349 shares of the scientific and technical instruments company’s stock valued at $7,714,000 after purchasing an additional 2,651 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Garmin by 8.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 163,517 shares of the scientific and technical instruments company’s stock valued at $26,640,000 after buying an additional 12,616 shares during the period. Blair William & Co. IL increased its holdings in shares of Garmin by 13.1% during the 2nd quarter. Blair William & Co. IL now owns 5,592 shares of the scientific and technical instruments company’s stock worth $911,000 after buying an additional 649 shares during the last quarter. Brighton Jones LLC raised its position in shares of Garmin by 5.8% during the 2nd quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock valued at $248,000 after buying an additional 83 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Garmin by 16.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 34,869 shares of the scientific and technical instruments company’s stock valued at $5,681,000 after acquiring an additional 4,895 shares during the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garmin

In related news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.54% of the stock is owned by corporate insiders.

Garmin Price Performance

Shares of NYSE:GRMN opened at $215.50 on Friday. The firm has a market capitalization of $41.38 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98. The firm’s 50-day moving average is $211.45 and its two-hundred day moving average is $187.30. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.46 by $0.53. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The firm’s revenue was up 24.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 EPS. Analysts expect that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Tigress Financial raised their target price on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Barclays boosted their price target on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $171.00.

About Garmin

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.