NovaPoint Capital LLC Acquires 621 Shares of Garmin Ltd. (NYSE:GRMN)

NovaPoint Capital LLC increased its position in Garmin Ltd. (NYSE:GRMN) by 2.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 24,145 shares of the scientific and technical instruments company’s stock after acquiring an additional 621 shares during the quarter. Garmin comprises 1.5% of NovaPoint Capital LLC’s investment portfolio, making the stock its 16th largest holding. NovaPoint Capital LLC’s holdings in Garmin were worth $4,980,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Citigroup Inc. grew 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 buying an additional 156,441 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in Garmin during the 3rd quarter valued at about $695,000. Trajan Wealth LLC grew its holdings in Garmin by 9.1% during the 3rd quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock valued at $14,498,000 after buying an additional 6,878 shares in the last quarter. Passumpsic Savings Bank purchased a new position in Garmin during the 3rd quarter valued at about $3,137,000. Finally, Advisors Asset Management Inc. grew its holdings in Garmin by 24.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 17,529 shares of the scientific and technical instruments company’s stock valued at $3,086,000 after buying an additional 3,415 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the subject of several recent analyst reports. Tigress Financial boosted their price objective 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 target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $171.00.

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the company’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 sale, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at $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 available at this link. 19.54% of the stock is owned by corporate insiders.

Garmin Stock Up 0.2 %

Shares of Garmin stock opened at $218.71 on Thursday. The company has a market cap of $42.00 billion, a PE ratio of 27.75, a P/E/G ratio of 1.30 and a beta of 0.98. The business has a 50 day moving average of $212.74 and a 200 day moving average of $191.63. Garmin Ltd. has a 52 week low of $120.06 and a 52 week high of $222.97.

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.