Garmin Ltd. (NYSE:GRMN) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,698 shares of the scientific and technical instruments company's stock after selling 7,288 shares during the quarter. Hsbc Holdings PLC owned 0.05% of Garmin worth $20,039,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in Garmin during the 4th quarter worth about $26,000. Aster Capital Management DIFC Ltd lifted its position in shares of Garmin by 864.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock worth $28,000 after purchasing an additional 121 shares in the last quarter. Pinnacle Bancorp Inc. purchased a new position in shares of Garmin in the fourth quarter valued at approximately $29,000. SOA Wealth Advisors LLC. acquired a new position in shares of Garmin in the fourth quarter valued at approximately $37,000. Finally, Kentucky Trust Co purchased a new stake in Garmin during the 4th quarter worth approximately $41,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 2,763 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $226.55, for a total transaction of $625,957.65. Following the transaction, the chief financial officer now owns 30,936 shares of the company's stock, valued at $7,008,550.80. This trade represents a 8.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, the vice president now directly owns 8,432 shares of the company's stock, valued at approximately $1,817,180.32. This represents a 25.12 % 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 quarter. 19.54% of the stock is owned by insiders.

Garmin Stock Down 0.1 %

Shares of Garmin stock opened at $198.82 on Friday. Garmin Ltd. has a 52 week low of $142.85 and a 52 week high of $246.50. The firm's 50 day moving average is $207.23 and its two-hundred day moving average is $205.71. The firm has a market capitalization of $38.25 billion, a P/E ratio of 27.20, a P/E/G ratio of 1.36 and a beta of 0.92.

Garmin (NYSE:GRMN - Get Free Report) last posted its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.51. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the firm posted $1.72 EPS. The company's revenue was up 22.9% on a year-over-year basis. As a group, research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.81%. Garmin's dividend payout ratio (DPR) is presently 49.25%.

Analysts Set New Price Targets

Several brokerages have commented on GRMN. Barclays raised their price target on shares of Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. Tigress Financial boosted their target price on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, February 26th. Morgan Stanley raised Garmin to a "sell" rating and increased their price target for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Garmin from $260.00 to $220.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. 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 data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $202.80.

Garmin 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.

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