Prospera Financial Services Inc Acquires 276 Shares of Garmin Ltd. (NYSE:GRMN)

Prospera Financial Services Inc increased its holdings in Garmin Ltd. (NYSE:GRMN) by 5.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,290 shares of the scientific and technical instruments company’s stock after buying an additional 276 shares during the period. Prospera Financial Services Inc’s holdings in Garmin were worth $932,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Swiss National Bank increased its position in shares of Garmin by 0.4% during the third quarter. Swiss National Bank now owns 456,000 shares of the scientific and technical instruments company’s stock worth $80,270,000 after purchasing an additional 1,700 shares in the last quarter. Claro Advisors LLC acquired a new position in shares of Garmin during the third quarter worth $242,000. RIA Advisory Group LLC acquired a new position in shares of Garmin during the third quarter worth $281,000. CIBC Asset Management Inc increased its position in shares of Garmin by 9.8% during the third quarter. CIBC Asset Management Inc now owns 17,998 shares of the scientific and technical instruments company’s stock worth $3,168,000 after purchasing an additional 1,607 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its position in shares of Garmin by 11.0% during the third quarter. OneDigital Investment Advisors LLC now owns 7,318 shares of the scientific and technical instruments company’s stock worth $1,288,000 after purchasing an additional 725 shares in the last quarter. Institutional investors own 73.41% of the company’s stock.

Garmin Stock Up 0.5 %

GRMN stock opened at $210.22 on Friday. The company’s 50-day simple moving average is $182.02 and its 200-day simple moving average is $173.65. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $215.55. The firm has a market cap of $40.37 billion, a P/E ratio of 26.68, a PEG ratio of 3.16 and a beta of 0.97.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the company posted $1.41 EPS. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, analysts anticipate that Garmin Ltd. will post 6.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Tigress Financial boosted their price objective on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Barclays boosted their price objective on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Finally, Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $155.00 to $138.00 in a report on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $162.67.

Insider Buying and Selling at Garmin

In other news, Director Philip Straub sold 2,750 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the sale, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This represents a 3.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the sale, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,424 shares of company stock worth $638,159. Insiders own 19.54% of the company’s stock.

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.