OneDigital Investment Advisors LLC Sells 2,698 Shares of Garmin Ltd. (NYSE:GRMN)

OneDigital Investment Advisors LLC cut its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 35.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,830 shares of the scientific and technical instruments company's stock after selling 2,698 shares during the period. OneDigital Investment Advisors LLC's holdings in Garmin were worth $1,049,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GRMN. Norges Bank acquired a new stake in shares of Garmin during the fourth quarter worth $396,184,000. GAMMA Investing LLC increased its stake in Garmin by 25,047.9% in the 1st quarter. GAMMA Investing LLC now owns 885,456 shares of the scientific and technical instruments company's stock valued at $192,259,000 after buying an additional 881,935 shares during the last quarter. Congress Asset Management Co. increased its stake in Garmin by 673.4% in the 1st quarter. Congress Asset Management Co. now owns 441,318 shares of the scientific and technical instruments company's stock valued at $95,823,000 after buying an additional 384,258 shares during the last quarter. Northern Trust Corp increased its stake in Garmin by 20.2% in the 4th quarter. Northern Trust Corp now owns 1,708,495 shares of the scientific and technical instruments company's stock valued at $352,394,000 after buying an additional 286,765 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Garmin by 164.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,145 shares of the scientific and technical instruments company's stock valued at $82,121,000 after buying an additional 247,726 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Trading Up 1.9%

Shares of Garmin stock traded up $3.95 during trading on Wednesday, hitting $217.36. 1,063,685 shares of the stock were exchanged, compared to its average volume of 907,951. The stock has a market capitalization of $41.85 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. The company has a fifty day moving average price of $202.33 and a 200-day moving average price of $207.03. Garmin Ltd. has a 1-year low of $160.71 and a 1-year high of $246.50.

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

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 16th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.66%. Garmin's payout ratio is 47.37%.

Analyst Ratings Changes

Several equities research analysts have issued reports on GRMN shares. Barclays lowered their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price target on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Morgan Stanley boosted their price objective on shares of Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $206.00.

Insider Activity

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

Garmin Company 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.