Confluence Wealth Services Inc. Has $1.46 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

Confluence Wealth Services Inc. increased its position in Garmin Ltd. (NYSE:GRMN) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp raised its holdings in Garmin by 2.2% during the second quarter. Truist Financial Corp now owns 6,743 shares of the scientific and technical instruments company’s stock worth $1,099,000 after buying an additional 148 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Garmin in the 2nd quarter worth about $1,424,000. Czech National Bank lifted its position in Garmin by 7.0% in the 3rd quarter. Czech National Bank now owns 31,324 shares of the scientific and technical instruments company’s stock valued at $5,514,000 after acquiring an additional 2,043 shares in the last quarter. GAMMA Investing LLC boosted its stake in Garmin by 23.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,216 shares of the scientific and technical instruments company’s stock valued at $566,000 after purchasing an additional 613 shares during the last quarter. Finally, Fulton Bank N.A. increased its holdings in Garmin by 5.4% during the 3rd quarter. Fulton Bank N.A. now owns 2,241 shares of the scientific and technical instruments company’s stock worth $394,000 after purchasing an additional 115 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on GRMN shares. Barclays lifted their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Tigress Financial upped their target price on shares of 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 assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $171.00.

Garmin Price Performance

Shares of NYSE:GRMN opened at $218.22 on Wednesday. Garmin Ltd. has a 1 year low of $119.31 and a 1 year high of $222.97. The company has a market capitalization of $41.90 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98. The business has a fifty day moving average price of $212.63 and a two-hundred day moving average price of $191.30.

Insider Buying and Selling

In other 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 transaction 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 represents a 6.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the sale, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is owned by insiders.

Garmin 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.