Garmin Ltd. (NYSE:GRMN) Stock Holdings Trimmed by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC lowered its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 14.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,087 shares of the scientific and technical instruments company’s stock after selling 516 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Garmin were worth $637,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GRMN. State Street Corp increased its position in shares of Garmin by 2.0% during the 3rd quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock valued at $1,216,819,000 after purchasing an additional 134,303 shares during the period. Geode Capital Management LLC increased its position in shares of Garmin by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company’s stock valued at $765,912,000 after purchasing an additional 112,815 shares during the period. FMR LLC increased its position in shares of Garmin by 40.8% during the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock valued at $664,540,000 after purchasing an additional 1,093,219 shares during the period. Disciplined Growth Investors Inc. MN increased its position in shares of Garmin by 3.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company’s stock valued at $246,619,000 after purchasing an additional 48,645 shares during the period. Finally, Captrust Financial Advisors increased its position in shares of Garmin by 4.1% during the 3rd quarter. Captrust Financial Advisors now owns 767,729 shares of the scientific and technical instruments company’s stock valued at $135,143,000 after purchasing an additional 30,011 shares during the period. Institutional investors own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the topic of several research analyst reports. Barclays lifted their price target 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 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. Three investment 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’s stock. Based on data from MarketBeat, Garmin has an average rating of “Hold” and a consensus price target of $171.00.

Garmin Stock Down 1.0 %

Shares of NYSE GRMN opened at $217.52 on Friday. The stock has a market capitalization of $41.77 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 1.30 and a beta of 0.98. The stock’s fifty day simple moving average is $213.02 and its 200 day simple moving average is $192.02. Garmin Ltd. has a 52-week low of $120.06 and a 52-week high of $223.33.

Insider Buying and Selling

In other news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was 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 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 sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 19.54% of the company’s stock.

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.