21,512 Shares in Garmin Ltd. (NYSE:GRMN) Bought by Banque Pictet & Cie SA

Banque Pictet & Cie SA bought a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 21,512 shares of the scientific and technical instruments company's stock, valued at approximately $4,437,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new stake in Garmin in the fourth quarter valued at $26,000. Pinnacle Bancorp Inc. acquired a new position in Garmin during the fourth quarter worth about $29,000. Larson Financial Group LLC grew its position in 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 worth $33,000 after buying an additional 162 shares during the period. SOA Wealth Advisors LLC. acquired a new position in Garmin during the fourth quarter worth about $37,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Garmin in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 81.60% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GRMN. Tigress Financial upped their price objective on shares of Garmin from $215.00 to $265.00 and gave the company a "strong-buy" rating in a research note on Monday, December 16th. Barclays raised their target price on shares of Garmin from $133.00 to $158.00 and gave the company an "underweight" rating in a research note on Friday, November 1st. Three 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's stock. According to MarketBeat.com, Garmin presently has an average rating of "Hold" and an average price target of $171.00.

Garmin Price Performance

Shares of NYSE:GRMN traded up $2.16 during trading on Tuesday, reaching $214.78. 1,324,028 shares of the company's stock traded hands, compared to its average volume of 714,956. Garmin Ltd. has a 12 month low of $121.20 and a 12 month high of $223.33. The company has a 50 day moving average of $212.63 and a 200-day moving average of $194.17. The stock has a market capitalization of $41.24 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 1.33 and a beta of 0.98.

Insider Buying and Selling at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the business's 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 sale, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 19.54% of the stock is currently owned by company insiders.

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.