Financial Advocates Investment Management Sells 398 Shares of Garmin Ltd. (NYSE:GRMN)

Financial Advocates Investment Management lessened its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,768 shares of the scientific and technical instruments company’s stock after selling 398 shares during the quarter. Financial Advocates Investment Management’s holdings in Garmin were worth $1,190,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new stake in Garmin in the 4th quarter worth approximately $29,000. Larson Financial Group LLC raised its stake in shares of Garmin by 578.6% during the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 162 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Garmin in the 3rd quarter worth approximately $39,000. Hager Investment Management Services LLC purchased a new stake in shares of Garmin in the 4th quarter valued at $52,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Garmin during the 3rd quarter valued at $59,000. 81.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction 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 insiders.

Garmin Price Performance

NYSE:GRMN opened at $219.77 on Friday. The firm’s 50-day moving average price is $212.87 and its 200-day moving average price is $191.82. The company has a market capitalization of $42.20 billion, a PE ratio of 27.89, a P/E/G ratio of 1.30 and a beta of 0.98. Garmin Ltd. has a 1-year low of $120.06 and a 1-year high of $222.97.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GRMN. Barclays raised their price objective on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Tigress Financial lifted their price target on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Three investment 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 company’s stock. Based on data from MarketBeat, the stock 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.