VCI Wealth Management LLC Invests $1.02 Million in Garmin Ltd. (NYSE:GRMN)

VCI Wealth Management LLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 4,957 shares of the scientific and technical instruments company’s stock, valued at approximately $1,022,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Curbstone Financial Management Corp lifted its position in shares of Garmin by 1.3% during the fourth quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company’s stock worth $802,000 after purchasing an additional 50 shares during the last quarter. BankPlus Wealth Management LLC bought a new stake in shares of Garmin in the fourth quarter valued at about $668,000. Baldwin Wealth Partners LLC MA raised its holdings in shares of Garmin by 4.5% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 83,662 shares of the scientific and technical instruments company’s stock valued at $17,256,000 after acquiring an additional 3,568 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Garmin by 64.6% in the fourth quarter. Blue Trust Inc. now owns 2,171 shares of the scientific and technical instruments company’s stock valued at $448,000 after acquiring an additional 852 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. bought a new stake in shares of Garmin in the fourth quarter valued at about $209,000. 81.60% of the stock is currently owned by institutional investors.

Garmin Stock Up 0.3 %

Shares of NYSE GRMN opened at $214.90 on Tuesday. The business’s 50 day moving average price is $211.85 and its 200 day moving average price is $189.38. The firm has a market cap of $41.26 billion, a P/E ratio of 27.27, a P/E/G ratio of 1.31 and a beta of 0.98. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $222.97.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. Garmin’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 earnings per share. As a group, research analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current year.

Analysts Set New Price Targets

GRMN has been the topic of a number of research analyst reports. Tigress Financial boosted their price target on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Barclays boosted their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and a consensus target price of $171.00.

Insider Buying and Selling at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was 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 currently owned by corporate insiders.

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.