EverSource Wealth Advisors LLC Has $214,000 Stock Position in Garmin Ltd. (NYSE:GRMN)

EverSource Wealth Advisors LLC boosted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 16.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,039 shares of the scientific and technical instruments company’s stock after buying an additional 147 shares during the period. EverSource Wealth Advisors LLC’s holdings in Garmin were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of GRMN. Metis Global Partners LLC grew its stake in Garmin by 6.8% in the third quarter. Metis Global Partners LLC now owns 9,554 shares of the scientific and technical instruments company’s stock valued at $1,682,000 after purchasing an additional 606 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in Garmin by 11.0% in the third quarter. OneDigital Investment Advisors LLC now owns 7,318 shares of the scientific and technical instruments company’s stock valued at $1,288,000 after purchasing an additional 725 shares in the last quarter. CIBC Asset Management Inc grew its stake in Garmin by 9.8% in the third quarter. CIBC Asset Management Inc now owns 17,998 shares of the scientific and technical instruments company’s stock valued at $3,168,000 after purchasing an additional 1,607 shares in the last quarter. Claro Advisors LLC purchased a new position in Garmin in the third quarter valued at about $242,000. Finally, Swiss National Bank grew its stake in Garmin by 0.4% in the third quarter. Swiss National Bank now owns 456,000 shares of the scientific and technical instruments company’s stock valued at $80,270,000 after purchasing an additional 1,700 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Performance

GRMN opened at $214.00 on Monday. The stock has a 50-day moving average of $216.99 and a 200-day moving average of $200.84. Garmin Ltd. has a 52-week low of $138.86 and a 52-week high of $246.50. The company has a market cap of $41.18 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96.

Garmin (NYSE:GRMN) last announced its 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. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the company earned $1.72 EPS. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.68%. Garmin’s payout ratio is 41.04%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was 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 owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Clifton A. Pemble sold 7,202 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total value of $1,635,862.28. Following the completion of the transaction, the chief executive officer now directly owns 149,525 shares of the company’s stock, valued at approximately $33,963,108.50. This trade represents a 4.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,103 shares of company stock worth $5,852,364 in the last 90 days. 19.54% of the stock is owned by company 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.