Frazier Financial Advisors LLC Sells 77 Shares of Garmin Ltd. (NYSE:GRMN)

Frazier Financial Advisors LLC lessened its holdings 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 institutional investor owned 157 shares of the scientific and technical instruments company’s stock after selling 77 shares during the period. Frazier Financial Advisors LLC’s holdings in Garmin were worth $33,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GRMN. Geneos Wealth Management Inc. raised its holdings in shares of Garmin by 1.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock worth $591,000 after buying an additional 49 shares in the last quarter. Curbstone Financial Management Corp boosted its position in Garmin by 1.3% in the fourth quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company’s stock valued at $802,000 after buying an additional 50 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Garmin by 26.8% during the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company’s stock worth $50,000 after buying an additional 51 shares in the last quarter. Addison Advisors LLC lifted its stake in shares of Garmin by 11.1% in the 4th quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company’s stock valued at $108,000 after acquiring an additional 52 shares during the last quarter. Finally, HB Wealth Management LLC grew its position in Garmin by 1.4% during the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock worth $788,000 after acquiring an additional 53 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GRMN shares. Barclays boosted their price target on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Tigress Financial raised their target price on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. Morgan Stanley raised Garmin to a “sell” rating and lifted their target price for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. raised their price objective on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Three investment 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 presently has a consensus rating of “Hold” and an average target price of $210.80.

Insider Buying and Selling

In other news, VP Susan Lyman sold 2,829 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the completion of the sale, the vice president now directly owns 8,432 shares of the company’s stock, valued at $1,817,180.32. The trade was a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew Munn sold 4,637 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $225.31, for a total transaction of $1,044,762.47. Following the completion of the sale, the director now owns 11,450 shares in the company, valued at $2,579,799.50. This represents a 28.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is owned by company insiders.

Garmin Trading Down 0.1 %

GRMN stock opened at $216.61 on Friday. The stock has a 50-day moving average price of $217.34 and a 200-day moving average price of $202.52. Garmin Ltd. has a 1-year low of $138.86 and a 1-year high of $246.50. The firm has a market cap of $41.68 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, topping the consensus estimate of $1.90 by $0.51. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.72 EPS. On average, analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 annualized dividend and a dividend yield of 1.66%. Garmin’s dividend payout ratio is presently 49.25%.

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.