Creative Financial Designs Inc. ADV Sells 8,418 Shares of Garmin Ltd. (NYSE:GRMN)

Creative Financial Designs Inc. ADV decreased its position in Garmin Ltd. (NYSE:GRMN) by 95.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its position in shares of Garmin by 1.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock valued at $591,000 after purchasing an additional 49 shares during the period. Curbstone Financial Management Corp raised its position in shares of 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 purchasing an additional 50 shares during the period. Larson Financial Group LLC raised its position in shares of Garmin by 26.8% in the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company’s stock valued at $50,000 after purchasing an additional 51 shares during the period. Addison Advisors LLC raised its position in shares of Garmin by 11.1% in the fourth quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company’s stock valued at $108,000 after purchasing an additional 52 shares during the period. Finally, HB Wealth Management LLC raised its position in shares of Garmin by 1.4% in the fourth quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock valued at $788,000 after purchasing an additional 53 shares during the period. Institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Garmin Price Performance

Shares of Garmin stock opened at $208.50 on Friday. The firm has a market capitalization of $40.12 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The company’s fifty day moving average price is $216.95 and its two-hundred day moving average price is $201.33. Garmin Ltd. has a 52-week low of $138.86 and a 52-week high of $246.50.

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

Garmin Announces Dividend

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 1.73%. Garmin’s dividend payout ratio is presently 41.04%.

Insider Activity

In other 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 value of $1,635,862.28. Following the sale, the chief executive officer now owns 149,525 shares in the company, valued at approximately $33,963,108.50. The trade was a 4.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Patrick Desbois sold 6,911 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the completion of the sale, the chief operating officer now owns 63,048 shares in the company, valued at $14,321,353.20. This represents a 9.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,342 shares of company stock worth $5,486,094. Corporate insiders own 19.54% of the company’s stock.

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.