Garmin Ltd. (NYSE:GRMN) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its stake in Garmin Ltd. (NYSE:GRMN) by 43.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,834 shares of the scientific and technical instruments company’s stock after selling 1,410 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Garmin were worth $323,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GRMN. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Garmin in the 2nd quarter worth approximately $31,000. Larson Financial Group LLC raised its position in Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 162 shares during the period. Family Firm Inc. acquired a new position in Garmin during the second quarter worth $35,000. Itau Unibanco Holding S.A. purchased a new position in shares of Garmin during the third quarter worth $39,000. Finally, Benjamin Edwards Inc. grew its stake in shares of Garmin by 73.3% in the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

GRMN stock opened at $208.99 on Friday. The company’s 50 day moving average price is $200.02 and its 200 day moving average price is $180.48. The firm has a market capitalization of $40.13 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.46 and a beta of 0.97. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $222.97.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company’s revenue was up 24.1% on a year-over-year basis. During the same period last year, the business earned $1.41 EPS. Equities analysts forecast that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on GRMN. Barclays raised their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Tigress Financial upped their target price on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Finally, Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $171.00.

Insiders Place Their Bets

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the firm’s 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 sale, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 19.54% of the stock is owned by company insiders.

About Garmin

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.