GHP Investment Advisors Inc. Reduces Stock Holdings in Garmin Ltd. (NYSE:GRMN)

GHP Investment Advisors Inc. decreased its stake in Garmin Ltd. (NYSE:GRMN) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,382 shares of the scientific and technical instruments company’s stock after selling 1,848 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Garmin were worth $13,279,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GRMN. Citigroup Inc. boosted its holdings in Garmin by 123.2% during the 3rd quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company’s stock valued at $49,889,000 after acquiring an additional 156,441 shares during the period. Dynamic Advisor Solutions LLC purchased a new stake in shares of Garmin in the 3rd quarter worth $695,000. Trajan Wealth LLC lifted its holdings in shares of Garmin by 9.1% in the 3rd quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock worth $14,498,000 after buying an additional 6,878 shares during the period. Passumpsic Savings Bank purchased a new stake in shares of Garmin in the 3rd quarter worth $3,137,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Garmin by 24.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,529 shares of the scientific and technical instruments company’s stock worth $3,086,000 after buying an additional 3,415 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Activity at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 19.54% of the stock is currently owned by corporate insiders.

Garmin Price Performance

Shares of NYSE:GRMN opened at $218.71 on Thursday. The business’s 50-day moving average is $212.74 and its 200 day moving average is $191.63. Garmin Ltd. has a 1 year low of $120.06 and a 1 year high of $222.97. The firm has a market capitalization of $42.00 billion, a P/E ratio of 27.75, a P/E/G ratio of 1.30 and a beta of 0.98.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Tigress Financial upped their target price on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, December 16th. Barclays boosted their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $171.00.

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.