Garmin Ltd. (NYSE:GRMN) Holdings Cut by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV lessened its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 95.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 436 shares of the scientific and technical instruments company's stock after selling 8,418 shares during the quarter. Creative Financial Designs Inc. ADV's holdings in Garmin were worth $90,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in Garmin by 123.2% in the third quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company's stock worth $49,889,000 after buying an additional 156,441 shares during the period. Passumpsic Savings Bank acquired a new stake in shares of Garmin in the 3rd quarter worth about $3,137,000. Advisors Asset Management Inc. lifted its position in Garmin by 24.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,529 shares of the scientific and technical instruments company's stock valued at $3,086,000 after purchasing an additional 3,415 shares during the last quarter. Diversified Trust Co acquired a new position in Garmin during the 4th quarter valued at about $734,000. Finally, Montrusco Bolton Investments Inc. increased its stake in shares of Garmin by 42.5% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 431,188 shares of the scientific and technical instruments company's stock valued at $88,937,000 after purchasing an additional 128,672 shares during the period. Institutional investors own 81.60% of the company's stock.

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Garmin Trading Up 1.9 %

NYSE:GRMN traded up $4.00 during mid-day trading on Tuesday, reaching $218.47. 1,079,292 shares of the stock were exchanged, compared to its average volume of 804,419. The business has a fifty day moving average price of $217.09 and a 200 day moving average price of $202.05. Garmin Ltd. has a 1-year low of $138.86 and a 1-year high of $246.50. The firm has a market capitalization of $42.03 billion, a PE ratio of 29.89, a PEG ratio of 1.36 and a beta of 0.96.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.51. The company had revenue of $1.82 billion for 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 revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 EPS. On average, sell-side analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Friday, March 13th. Garmin's dividend payout ratio is presently 49.25%.

Insider Buying and Selling

In related news, VP Susan Lyman sold 2,829 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the sale, the vice president now owns 8,432 shares in the company, valued at approximately $1,817,180.32. This represents a 25.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Desbois sold 6,911 shares of Garmin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the transaction, the chief operating officer now owns 63,048 shares in the company, valued at approximately $14,321,353.20. The trade was a 9.88 % 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 in the last three months. 19.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GRMN. Tigress Financial boosted their price objective on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, February 26th. Barclays increased 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. Morgan Stanley upgraded shares of Garmin to a "sell" rating and lifted their price objective for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of Garmin from $219.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $210.80.

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.