Atria Investments Inc Trims Holdings in Garmin Ltd. (NYSE:GRMN)

Atria Investments Inc trimmed its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 18.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,283 shares of the scientific and technical instruments company's stock after selling 2,107 shares during the period. Atria Investments Inc's holdings in Garmin were worth $1,915,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Geneos Wealth Management Inc. raised its stake in shares of Garmin by 1.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company's stock valued at $591,000 after acquiring an additional 49 shares during the period. Curbstone Financial Management Corp raised its stake in shares of Garmin by 1.3% in the 4th quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company's stock valued at $802,000 after acquiring an additional 50 shares during the period. Addison Advisors LLC raised its stake in shares of Garmin by 11.1% in the 4th quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company's stock valued at $108,000 after acquiring an additional 52 shares during the period. HB Wealth Management LLC raised its stake in shares of Garmin by 1.4% in the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company's stock valued at $788,000 after acquiring an additional 53 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Garmin by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,185 shares of the scientific and technical instruments company's stock valued at $2,720,000 after acquiring an additional 55 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Matthew Munn sold 4,637 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $225.31, for a total value of $1,044,762.47. Following the completion of the transaction, the director now owns 11,450 shares in the company, valued at approximately $2,579,799.50. This represents a 28.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Douglas G. Boessen sold 2,763 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $226.55, for a total transaction of $625,957.65. Following the completion of the transaction, the chief financial officer now owns 30,936 shares of the company's stock, valued at approximately $7,008,550.80. The trade was a 8.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,274 shares of company stock worth $5,242,686 in the last 90 days. Corporate insiders own 19.54% of the company's stock.

Garmin Stock Down 1.1 %

NYSE GRMN opened at $219.51 on Monday. Garmin Ltd. has a 52 week low of $138.86 and a 52 week high of $246.50. The stock has a market capitalization of $42.23 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The firm has a 50 day moving average of $216.28 and a two-hundred day moving average of $199.65.

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Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, topping the consensus estimate of $1.90 by $0.51. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter in the previous year, the business posted $1.72 EPS. The firm's revenue was up 22.9% on a year-over-year basis. On average, equities research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's dividend payout ratio (DPR) is presently 41.04%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GRMN shares. Morgan Stanley upgraded shares of Garmin to a "sell" rating and lifted their price objective for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Barclays lifted their price objective on shares of Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price objective on shares of Garmin from $219.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, Tigress Financial lifted their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a report on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, Garmin has a consensus rating of "Hold" and an average target price of $210.80.

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.

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