Confluence Wealth Services Inc. Acquires 357 Shares of Garmin Ltd. (NYSE:GRMN)

Confluence Wealth Services Inc. lifted its stake in Garmin Ltd. (NYSE:GRMN) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,771 shares of the scientific and technical instruments company’s stock after buying an additional 357 shares during the period. Confluence Wealth Services Inc.’s holdings in Garmin were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Geneos Wealth Management Inc. grew its position in 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 valued at $591,000 after acquiring an additional 49 shares during the last quarter. Curbstone Financial Management Corp boosted its stake in shares of 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 grew its holdings in shares of 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 valued at $788,000 after purchasing an additional 53 shares during the last quarter. Outlook Wealth Advisors LLC lifted its stake in Garmin by 2.6% in the 4th quarter. Outlook Wealth Advisors LLC now owns 2,332 shares of the scientific and technical instruments company’s stock valued at $481,000 after purchasing an additional 58 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its stake in Garmin by 0.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the subject of several research analyst reports. Barclays upped their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Tigress Financial increased their target price on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $171.00.

Insider Transactions at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the sale, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total value 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 $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 corporate insiders.

Garmin Trading Up 1.3 %

Shares of GRMN opened at $218.22 on Wednesday. The stock’s 50-day moving average price is $212.63 and its two-hundred day moving average price is $191.30. Garmin Ltd. has a 12 month low of $119.31 and a 12 month high of $222.97. The company has a market capitalization of $41.90 billion, a PE ratio of 27.69, a PEG ratio of 1.30 and a beta of 0.98.

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.