Azzad Asset Management Inc. ADV Sells 70 Shares of Garmin Ltd. (NYSE:GRMN)

Azzad Asset Management Inc. ADV reduced its stake in Garmin Ltd. (NYSE:GRMN) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,662 shares of the scientific and technical instruments company’s stock after selling 70 shares during the period. Garmin makes up approximately 1.1% of Azzad Asset Management Inc. ADV’s holdings, making the stock its 18th largest holding. Azzad Asset Management Inc. ADV’s holdings in Garmin were worth $4,262,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. CWM LLC lifted its holdings in shares of Garmin by 12.8% during the third quarter. CWM LLC now owns 7,164 shares of the scientific and technical instruments company’s stock valued at $1,261,000 after acquiring an additional 814 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Garmin by 4,398.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,339 shares of the scientific and technical instruments company’s stock worth $412,000 after acquiring an additional 2,287 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in Garmin by 107.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,218 shares of the scientific and technical instruments company’s stock worth $390,000 after acquiring an additional 1,148 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Garmin during the 3rd quarter valued at $110,000. Finally, Empirical Asset Management LLC bought a new position in Garmin in the 3rd quarter valued at $813,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Tigress Financial upped their price target on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Barclays increased their price target 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 issued a strong buy rating to the company. According to MarketBeat, Garmin presently has a consensus rating of “Hold” and an average target price of $171.00.

Insider Activity

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction 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 approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 19.54% of the stock is currently owned by company insiders.

Garmin Stock Performance

Shares of GRMN stock opened at $211.46 on Wednesday. The firm’s 50 day moving average price is $213.16 and its two-hundred day moving average price is $192.91. Garmin Ltd. has a 52-week low of $120.06 and a 52-week high of $223.33. The stock has a market cap of $40.60 billion, a PE ratio of 26.84, a PEG ratio of 1.33 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.