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Bogart Wealth LLC Buys 501 Shares of Garmin Ltd. (NYSE:GRMN)

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Bogart Wealth LLC boosted its stake in Garmin Ltd. (NYSE:GRMN – Get Rating) by 10,020.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 506 shares of the scientific and technical instruments company's stock after acquiring an additional 501 shares during the period. Bogart Wealth LLC's holdings in Garmin were worth $50,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in shares of Garmin during the 1st quarter valued at $26,000. HWG Holdings LP bought a new stake in shares of Garmin during the 4th quarter valued at $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Garmin during the 1st quarter valued at $45,000. Tradewinds Capital Management LLC boosted its holdings in shares of Garmin by 33.3% during the 1st quarter. Tradewinds Capital Management LLC now owns 400 shares of the scientific and technical instruments company's stock valued at $47,000 after buying an additional 100 shares in the last quarter. Finally, Trust Co. of Vermont bought a new stake in shares of Garmin during the 2nd quarter valued at $49,000. Institutional investors own 62.50% of the company's stock.

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Insiders Place Their Bets

In other Garmin news, CEO Clifton A. Pemble sold 9,550 shares of the business's stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $90.00, for a total value of $859,500.00. Following the completion of the transaction, the chief executive officer now owns 135,950 shares of the company's stock, valued at approximately $12,235,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Clifton A. Pemble sold 16,089 shares of the company's stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $97.81, for a total transaction of $1,573,665.09. Following the completion of the sale, the chief executive officer now owns 145,500 shares of the company's stock, valued at approximately $14,231,355. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Clifton A. Pemble sold 9,550 shares of the company's stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $90.00, for a total transaction of $859,500.00. Following the sale, the chief executive officer now directly owns 135,950 shares of the company's stock, valued at approximately $12,235,500. The disclosure for this sale can be found here. 20.34% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GRMN shares. TheStreet cut shares of Garmin from a "b" rating to a "c+" rating in a research note on Wednesday, July 27th. Bank of America cut shares of Garmin from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $137.00 to $109.00 in a research note on Tuesday, August 2nd. Tigress Financial dropped their price target on shares of Garmin from $208.00 to $165.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 5th. Finally, Morgan Stanley dropped their price target on shares of Garmin from $127.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 14th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Garmin has a consensus rating of "Moderate Buy" and an average price target of $134.75.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $80.31 on Monday. Garmin Ltd. has a fifty-two week low of $80.22 and a fifty-two week high of $165.84. The business has a 50-day simple moving average of $92.14 and a two-hundred day simple moving average of $101.26. The firm has a market cap of $15.49 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 2.93 and a beta of 0.98.

Garmin (NYSE:GRMN – Get Rating) last issued its earnings results on Wednesday, July 27th. The scientific and technical instruments company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.02. Garmin had a return on equity of 17.71% and a net margin of 20.31%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the firm earned $1.68 EPS. Garmin's revenue was down 6.5% on a year-over-year basis. As a group, research analysts predict that Garmin Ltd. will post 4.9 earnings per share for the current year.

About Garmin

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Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.

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