Mizuho Securities USA LLC Boosts Stock Position in Garmin Ltd. (NYSE:GRMN)

Mizuho Securities USA LLC grew its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 46.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,560 shares of the scientific and technical instruments company's stock after acquiring an additional 4,589 shares during the period. Mizuho Securities USA LLC's holdings in Garmin were worth $3,003,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GRMN. Golden State Wealth Management LLC purchased a new stake in shares of Garmin in the 4th quarter worth $26,000. Pinnacle Bancorp Inc. bought a new stake in shares of Garmin in the fourth quarter valued at about $29,000. SOA Wealth Advisors LLC. purchased a new stake in Garmin in the fourth quarter worth about $37,000. Larson Financial Group LLC grew its holdings in Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company's stock worth $33,000 after acquiring an additional 162 shares in the last quarter. Finally, Kentucky Trust Co purchased a new position in Garmin during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insider Buying and Selling at Garmin

In related news, CEO Clifton A. Pemble sold 7,202 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the transaction, the chief executive officer now directly owns 149,525 shares in the company, valued at $33,963,108.50. The trade was a 4.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Susan Lyman sold 2,829 shares of the stock in a transaction dated Monday, March 10th. The stock was 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 in the company, valued at $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. In the last 90 days, insiders have sold 24,342 shares of company stock worth $5,486,094. 19.54% of the stock is currently owned by insiders.

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Garmin Price Performance

Garmin stock traded down $0.22 during midday trading on Thursday, reaching $216.61. The company's stock had a trading volume of 736,816 shares, compared to its average volume of 806,270. The stock has a market capitalization of $41.68 billion, a P/E ratio of 29.63, a PEG ratio of 1.36 and a beta of 0.96. The stock's 50-day simple moving average is $217.30 and its 200-day simple moving average is $202.42. Garmin Ltd. has a 52-week low of $138.86 and a 52-week high of $246.50.

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 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the firm posted $1.72 EPS. Garmin's revenue was up 22.9% on a year-over-year basis. As a group, equities research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 1.66%. Garmin's dividend payout ratio is currently 49.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective 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. Morgan Stanley upgraded Garmin to a "sell" rating and lifted their price target for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Barclays boosted their price target on Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Finally, Tigress Financial raised their price objective on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Garmin has an average rating of "Hold" and an average 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.