Assetmark Inc. Has $1.28 Million Position in Garmin Ltd. $GRMN

Assetmark Inc. raised its position in Garmin Ltd. (NYSE:GRMN) by 13.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,142 shares of the scientific and technical instruments company’s stock after purchasing an additional 725 shares during the quarter. Assetmark Inc.’s holdings in Garmin were worth $1,282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Garmin by 2.0% during the first quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock valued at $4,000,656,000 after buying an additional 357,458 shares in the last quarter. Invesco Ltd. grew its stake in shares of Garmin by 9.0% in the first quarter. Invesco Ltd. now owns 1,862,153 shares of the scientific and technical instruments company’s stock worth $404,329,000 after acquiring an additional 153,267 shares during the last quarter. AQR Capital Management LLC raised its holdings in Garmin by 79.3% in the 1st quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company’s stock valued at $340,574,000 after acquiring an additional 700,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Garmin by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,210,827 shares of the scientific and technical instruments company’s stock worth $262,907,000 after buying an additional 211,731 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Garmin by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 892,606 shares of the scientific and technical instruments company’s stock valued at $193,812,000 after acquiring an additional 2,768 shares during the period. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Up 0.0%

Shares of NYSE:GRMN opened at $205.47 on Thursday. The business has a 50 day moving average of $240.73 and a 200-day moving average of $222.02. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The stock has a market cap of $39.52 billion, a PE ratio of 25.30, a P/E/G ratio of 2.41 and a beta of 1.01.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.99. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. Equities research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GRMN. Barclays raised their price objective on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Tigress Financial boosted their price target on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. JPMorgan Chase & Co. raised their target price on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Morgan Stanley upped their price objective on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $239.50.

Insiders Place Their Bets

In other news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the completion of the transaction, the insider directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.38% of the stock is owned by corporate insiders.

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.