Frazier Financial Advisors LLC Has $33,000 Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Frazier Financial Advisors LLC lowered its stake in shares of Garmin Ltd. (NYSE:GRMN) by 32.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 157 shares of the scientific and technical instruments company’s stock after selling 77 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Garmin were worth $33,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new stake in shares of Garmin during the fourth quarter valued at approximately $2,475,000. Norges Bank bought a new position in Garmin in the 4th quarter valued at $396,184,000. Blair William & Co. IL increased its stake in shares of Garmin by 6.1% in the 4th quarter. Blair William & Co. IL now owns 4,821 shares of the scientific and technical instruments company’s stock valued at $994,000 after buying an additional 279 shares during the period. NEOS Investment Management LLC raised its position in shares of Garmin by 25.6% during the fourth quarter. NEOS Investment Management LLC now owns 6,074 shares of the scientific and technical instruments company’s stock worth $1,253,000 after acquiring an additional 1,238 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its holdings in Garmin by 15.5% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 15,702 shares of the scientific and technical instruments company’s stock valued at $3,239,000 after acquiring an additional 2,104 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other Garmin news, VP Susan Lyman sold 2,829 shares of the company’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 $1,817,180.32. This represents a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Clifton A. Pemble sold 7,202 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total value of $1,635,862.28. Following the transaction, the chief executive officer now directly owns 149,525 shares in the company, valued at $33,963,108.50. The trade was a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,342 shares of company stock worth $5,486,094 over the last ninety days. Insiders own 19.54% of the company’s stock.

Garmin Price Performance

NYSE GRMN opened at $216.61 on Friday. Garmin Ltd. has a one year low of $138.86 and a one year high of $246.50. The firm has a market cap of $41.68 billion, a P/E ratio of 29.63, a P/E/G ratio of 1.36 and a beta of 0.96. The stock’s 50-day moving average is $217.34 and its 200-day moving average is $202.52.

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 for the quarter, beating the consensus estimate of $1.90 by $0.51. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.72 earnings per share. Equities analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current 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 given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio (DPR) is currently 49.25%.

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.