Alpine Woods Capital Investors LLC Decreases Stake in Garmin Ltd. (NYSE:GRMN)

Alpine Woods Capital Investors LLC lessened its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 34.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,358 shares of the scientific and technical instruments company's stock after selling 5,421 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Garmin were worth $2,249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GRMN. LBP AM SA boosted its holdings in shares of Garmin by 13.6% in the 1st quarter. LBP AM SA now owns 15,108 shares of the scientific and technical instruments company's stock worth $3,280,000 after buying an additional 1,811 shares during the last quarter. OMNI 360 Wealth Inc. bought a new position in shares of Garmin in the first quarter worth approximately $210,000. Personal CFO Solutions LLC increased its position in shares of Garmin by 18.7% in the first quarter. Personal CFO Solutions LLC now owns 1,580 shares of the scientific and technical instruments company's stock worth $343,000 after purchasing an additional 249 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Garmin by 6.1% in the first quarter. Valeo Financial Advisors LLC now owns 1,469 shares of the scientific and technical instruments company's stock worth $319,000 after purchasing an additional 84 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in shares of Garmin by 6.8% in the first quarter. Stratos Wealth Partners LTD. now owns 6,838 shares of the scientific and technical instruments company's stock worth $1,485,000 after purchasing an additional 433 shares during the last quarter. Institutional investors own 81.60% of the company's stock.

Insider Activity

In other news, CFO Douglas G. Boessen sold 1,859 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total value of $399,685.00. Following the transaction, the chief financial officer directly owned 29,146 shares in the company, valued at $6,266,390. The trade was a 6.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Clifton A. Pemble sold 7,899 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the sale, the chief executive officer directly owned 141,626 shares in the company, valued at approximately $28,785,484.50. The trade was a 5.28% decrease in their position. The disclosure for this sale can be found here. 15.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley upped their price objective on shares of Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $206.00.

Garmin Trading Down 1.0%

GRMN traded down $2.14 during trading on Friday, reaching $215.67. The stock had a trading volume of 253,346 shares, compared to its average volume of 906,692. The stock's 50 day moving average is $203.56 and its two-hundred day moving average is $207.16. The company has a market capitalization of $41.52 billion, a price-to-earnings ratio of 28.37, a P/E/G ratio of 2.43 and a beta of 0.97. Garmin Ltd. has a one year low of $160.71 and a one year high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.01). Garmin had a net margin of 22.76% and a return on equity of 19.21%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the business earned $1.42 earnings per share. Garmin's revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 16th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.67%. Garmin's payout ratio is 47.37%.

Garmin 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.