U.S. Capital Wealth Advisors LLC Invests $7.48 Million in Garmin Ltd. (NYSE:GRMN)

U.S. Capital Wealth Advisors LLC acquired a new position in Garmin Ltd. (NYSE:GRMN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,272 shares of the scientific and technical instruments company's stock, valued at approximately $7,482,000.

Other large investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. purchased a new position in shares of Garmin in the fourth quarter valued at $29,000. Larson Financial Group LLC boosted its stake 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 purchasing an additional 162 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Garmin in the third quarter valued at $39,000. Capital Performance Advisors LLP purchased a new position in shares of Garmin in the third quarter valued at $59,000. Finally, Versant Capital Management Inc boosted its stake in Garmin by 78.0% during the 4th quarter. Versant Capital Management Inc now owns 493 shares of the scientific and technical instruments company's stock valued at $102,000 after acquiring an additional 216 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.

Insider Buying and Selling

In related news, Director Sean Biddlecombe sold 587 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, the director now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas G. Boessen sold 1,761 shares of the firm'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 transaction of $366,270.39. Following the transaction, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of research analyst reports. Tigress Financial increased 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. Morgan Stanley downgraded shares of Garmin from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, Barclays increased their price objective 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 research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $171.00.

Garmin Trading Down 0.0 %

Shares of GRMN traded down $0.02 during midday trading on Monday, hitting $215.83. The stock had a trading volume of 513,323 shares, compared to its average volume of 669,986. Garmin Ltd. has a fifty-two week low of $119.31 and a fifty-two week high of $222.97. The business has a 50-day simple moving average of $212.61 and a two-hundred day simple moving average of $190.98. The firm has a market cap of $41.44 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98.

About Garmin

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.