Nova R Wealth Inc. Sells 74 Shares of Garmin Ltd. (NYSE:GRMN)

Nova R Wealth Inc. trimmed its position in Garmin Ltd. (NYSE:GRMN) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,650 shares of the scientific and technical instruments company’s stock after selling 74 shares during the quarter. Garmin accounts for approximately 1.2% of Nova R Wealth Inc.’s holdings, making the stock its 18th biggest holding. Nova R Wealth Inc.’s holdings in Garmin were worth $2,403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GRMN. Golden State Wealth Management LLC bought a new stake in Garmin in the fourth quarter worth $26,000. Pinnacle Bancorp Inc. purchased a new stake in Garmin in the fourth quarter valued at approximately $29,000. SOA Wealth Advisors LLC. acquired a new position in Garmin during the fourth quarter worth $37,000. Larson Financial Group LLC lifted its position in shares of Garmin by 578.6% in 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 acquiring an additional 162 shares in the last quarter. Finally, Kentucky Trust Co acquired a new stake in shares of Garmin in the fourth quarter valued at about $41,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Garmin

In related 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 value of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 19.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Tigress Financial lifted 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. Barclays boosted their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Three 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $171.00.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $209.97 on Friday. The firm has a fifty day moving average price of $213.02 and a 200 day moving average price of $193.26. The firm has a market cap of $40.32 billion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 1.33 and a beta of 0.98. Garmin Ltd. has a fifty-two week low of $120.72 and a fifty-two week high of $223.33.

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.