NovaPoint Capital LLC Grows Stake in Garmin Ltd. (NYSE:GRMN)

NovaPoint Capital LLC raised its stake in Garmin Ltd. (NYSE:GRMN) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,145 shares of the scientific and technical instruments company’s stock after acquiring an additional 621 shares during the period. Garmin makes up 1.5% of NovaPoint Capital LLC’s portfolio, making the stock its 16th biggest position. NovaPoint Capital LLC’s holdings in Garmin were worth $4,980,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Pinnacle Bancorp Inc. purchased a new stake in shares of Garmin during the fourth quarter valued at $29,000. Larson Financial Group LLC boosted its position 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 valued at $33,000 after buying an additional 162 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Garmin during the third quarter valued at $39,000. Hager Investment Management Services LLC purchased a new stake in shares of Garmin during the fourth quarter valued at $52,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Garmin during the third quarter valued at $59,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Stock Up 0.2 %

NYSE GRMN opened at $218.71 on Thursday. The stock’s 50-day moving average price is $212.74 and its 200-day moving average price is $191.63. Garmin Ltd. has a 52 week low of $120.06 and a 52 week high of $222.97. The company has a market capitalization of $42.00 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98.

Insider Transactions at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s 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 owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on GRMN. Tigress Financial increased their price objective on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Barclays increased their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Three research 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, the company currently has a consensus rating of “Hold” and an average target price of $171.00.

Garmin Company 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.