Garmin Ltd. (NYSE:GRMN) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lessened its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 35.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,830 shares of the scientific and technical instruments company's stock after selling 2,698 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Garmin were worth $1,049,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Avantax Planning Partners Inc. raised its stake in shares of Garmin by 8.5% during the first quarter. Avantax Planning Partners Inc. now owns 2,137 shares of the scientific and technical instruments company's stock worth $464,000 after purchasing an additional 167 shares during the last quarter. Barlow Wealth Partners Inc. raised its stake in shares of Garmin by 1.3% during the first quarter. Barlow Wealth Partners Inc. now owns 72,512 shares of the scientific and technical instruments company's stock worth $14,427,000 after purchasing an additional 910 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Garmin by 1.2% during the first quarter. D.A. Davidson & CO. now owns 29,608 shares of the scientific and technical instruments company's stock worth $6,429,000 after purchasing an additional 356 shares during the last quarter. Baskin Financial Services Inc. raised its stake in shares of Garmin by 0.6% during the first quarter. Baskin Financial Services Inc. now owns 149,891 shares of the scientific and technical instruments company's stock worth $32,546,000 after purchasing an additional 934 shares during the last quarter. Finally, Novem Group raised its stake in shares of Garmin by 34.9% during the first quarter. Novem Group now owns 6,453 shares of the scientific and technical instruments company's stock worth $1,401,000 after purchasing an additional 1,670 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GRMN. Morgan Stanley increased their price objective on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Barclays cut their price objective on Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. cut their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company 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. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $206.00.

Insiders Place Their Bets

In related news, CFO Douglas G. Boessen sold 1,859 shares of Garmin stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total transaction of $399,685.00. Following the completion of the sale, the chief financial officer owned 29,146 shares in the company, valued at approximately $6,266,390. This trade represents a 6.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Clifton A. Pemble sold 7,899 shares of Garmin stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $203.25, for a total value of $1,605,471.75. Following the sale, the chief executive officer owned 141,626 shares of the company's stock, valued at approximately $28,785,484.50. This represents a 5.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.38% of the company's stock.

Garmin Trading Up 0.3%

Shares of GRMN stock traded up $0.69 during mid-day trading on Thursday, reaching $217.80. The stock had a trading volume of 768,318 shares, compared to its average volume of 909,223. Garmin Ltd. has a 12-month low of $160.71 and a 12-month high of $246.50. The company has a market cap of $41.94 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 2.43 and a beta of 0.97. The business has a 50-day simple moving average of $202.94 and a 200 day simple moving average of $207.10.

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

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 16th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.65%. Garmin's dividend payout ratio is currently 47.37%.

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.