Foster Victor Wealth Advisors LLC Grows Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Foster Victor Wealth Advisors LLC grew its holdings in Garmin Ltd. (NYSE:GRMN) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,962 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,172 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Garmin were worth $12,392,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. EP Wealth Advisors LLC acquired a new stake in shares of Garmin during the 4th quarter worth approximately $453,000. American International Group Inc. increased its holdings in shares of Garmin by 1.5% during the 4th quarter. American International Group Inc. now owns 41,132 shares of the scientific and technical instruments company’s stock worth $5,287,000 after buying an additional 600 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Garmin by 16.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,853 shares of the scientific and technical instruments company’s stock worth $1,781,000 after buying an additional 1,921 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Garmin during the 4th quarter worth approximately $398,000. Finally, Symmetry Partners LLC acquired a new stake in shares of Garmin during the 1st quarter worth approximately $336,000. 73.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Garmin

In other news, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the sale, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,892 shares of company stock valued at $2,296,174. Insiders own 19.54% of the company’s stock.

Garmin Stock Down 0.7 %

NYSE:GRMN opened at $166.81 on Wednesday. The company has a fifty day simple moving average of $173.95 and a two-hundred day simple moving average of $165.44. The company has a market cap of $32.04 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 2.85 and a beta of 0.99. Garmin Ltd. has a 52 week low of $99.61 and a 52 week high of $184.42.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.40 by $0.18. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.42 billion. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.45 earnings per share. On average, analysts expect that Garmin Ltd. will post 6.08 EPS for the current year.

Wall Street Analysts Forecast Growth

GRMN has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Barclays downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $181.00 to $133.00 in a report on Friday, September 13th. Tigress Financial lifted their target price on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Finally, Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $155.00 to $138.00 in a report on Monday, October 7th. Three equities 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $158.50.

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.