Garmin Ltd. (NYSE:GRMN) Shares Sold by Valicenti Advisory Services Inc.

Valicenti Advisory Services Inc. trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,674 shares of the scientific and technical instruments company’s stock after selling 140 shares during the quarter. Valicenti Advisory Services Inc.’s holdings in Garmin were worth $3,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its stake in shares of Garmin by 1.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock worth $591,000 after acquiring an additional 49 shares during the last quarter. Curbstone Financial Management Corp lifted its holdings in 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 purchasing an additional 50 shares in the last quarter. HB Wealth Management LLC boosted its stake in Garmin by 1.4% during the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock worth $788,000 after purchasing an additional 53 shares during the last quarter. Outlook Wealth Advisors LLC grew its holdings in shares of Garmin by 2.6% during the fourth quarter. Outlook Wealth Advisors LLC now owns 2,332 shares of the scientific and technical instruments company’s stock worth $481,000 after buying an additional 58 shares in the last quarter. Finally, Sumitomo Life Insurance Co. lifted its stake in shares of Garmin by 0.9% in the third quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock worth $1,177,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

GRMN stock opened at $216.85 on Wednesday. Garmin Ltd. has a one year low of $119.15 and a one year high of $222.97. The firm has a market cap of $41.64 billion, a PE ratio of 27.52, a PEG ratio of 1.31 and a beta of 0.98. The firm’s 50 day moving average price is $211.97 and its 200-day moving average price is $189.72.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 earnings per share. Equities research analysts predict that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Insider Activity at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. This represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction on 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 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 disclosure for this sale can be found here. 19.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GRMN shares. Barclays upped their price objective on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Tigress Financial upped their price target on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Finally, Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Garmin has a consensus rating of “Hold” and an average price target of $171.00.

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.