Cambridge Investment Research Advisors Inc. Boosts Holdings in Garmin Ltd. (NASDAQ:GRMN)

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Cambridge Investment Research Advisors Inc. increased its holdings in Garmin Ltd. (NASDAQ:GRMN) by 0.5% during the fourth quarter, Holdings Channel reports. The firm owned 22,846 shares of the scientific and technical instruments company’s stock after acquiring an additional 123 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Garmin were worth $2,229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GRMN. Quadrant Capital Group LLC lifted its holdings in Garmin by 169.0% in the 4th quarter. Quadrant Capital Group LLC now owns 382 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 240 shares in the last quarter. Quest Capital Management Inc. ADV purchased a new position in Garmin in the 3rd quarter worth approximately $38,000. American National Bank purchased a new position in Garmin in the 4th quarter worth approximately $54,000. IFP Advisors Inc lifted its holdings in Garmin by 25.6% in the 4th quarter. IFP Advisors Inc now owns 618 shares of the scientific and technical instruments company’s stock worth $60,000 after purchasing an additional 126 shares in the last quarter. Finally, Bray Capital Advisors purchased a new position in Garmin in the 3rd quarter worth approximately $68,000. 45.85% of the stock is currently owned by institutional investors.

A number of research firms recently commented on GRMN. BidaskClub cut Garmin from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a report on Wednesday, November 27th. ValuEngine cut Garmin from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Credit Suisse Group raised Garmin from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $100.00 in a report on Monday, January 27th. Finally, Morgan Stanley upped their price objective on Garmin from $81.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $86.99.

Shares of GRMN opened at $98.18 on Friday. The stock has a market capitalization of $19.45 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 3.11 and a beta of 0.90. Garmin Ltd. has a 1 year low of $70.86 and a 1 year high of $102.42. The business’s 50 day simple moving average is $98.14 and its 200-day simple moving average is $90.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.64 and a quick ratio of 1.93.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, March 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.32%. Garmin’s dividend payout ratio (DPR) is 61.79%.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

Further Reading: Using other technical indicators with support levels

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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