Sequoia Financial Advisors LLC Has $383,000 Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Sequoia Financial Advisors LLC trimmed its stake in shares of Garmin Ltd. (NYSE:GRMN) by 17.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,175 shares of the scientific and technical instruments company’s stock after selling 454 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Garmin were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Sumitomo Life Insurance Co. boosted its stake in Garmin by 0.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after buying an additional 61 shares in the last quarter. Elo Mutual Pension Insurance Co grew its holdings in shares of Garmin by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock worth $2,290,000 after purchasing an additional 70 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of Garmin by 3.3% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock worth $344,000 after purchasing an additional 73 shares in the last quarter. UMB Bank n.a. lifted its holdings in Garmin by 2.6% during the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock valued at $469,000 after purchasing an additional 74 shares during the last quarter. Finally, Brighton Jones LLC boosted its position in Garmin by 5.8% in the second quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock valued at $248,000 after buying an additional 83 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GRMN shares. Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays lowered Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $181.00 to $133.00 in a research note on Friday, September 13th. Tigress Financial raised their target price on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. Finally, StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Garmin currently has a consensus rating of “Hold” and a consensus price target of $158.50.

Insiders Place Their Bets

In related news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the transaction, the insider now owns 40,965 shares in the company, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Philip Straub sold 2,750 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the sale, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,892 shares of company stock worth $2,296,174. Insiders own 19.54% of the company’s stock.

Garmin Price Performance

GRMN opened at $162.30 on Monday. The firm has a 50 day simple moving average of $173.31 and a 200 day simple moving average of $166.30. Garmin Ltd. has a fifty-two week low of $99.61 and a fifty-two week high of $184.42. The company has a market cap of $31.20 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 2.81 and a beta of 0.99.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the business posted $1.45 EPS. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, analysts expect that Garmin Ltd. will post 6.08 EPS for the current year.

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.