Swiss National Bank Has Cut Its Stake in Garmin LTD (GRMN) as Stock Rose; Cullen Capital Management Raised Stake in Merck & Co. (MRK) as Market Value Declined

January 1, 2018 - By Adrian Erickson

Swiss National Bank decreased its stake in Garmin Ltd (GRMN) by 2.35% based on its latest 2017Q3 regulatory filing with the SEC. Swiss National Bank sold 10,900 shares as the company’s stock rose 0.81% with the market. The institutional investor held 453,848 shares of the industrial machinery and components company at the end of 2017Q3, valued at $24.49 million, down from 464,748 at the end of the previous reported quarter. Swiss National Bank who had been investing in Garmin Ltd for a number of months, seems to be less bullish one the $11.17 billion market cap company. The stock decreased 0.33% or $0.2 during the last trading session, reaching $59.57. About 497,175 shares traded. Garmin Ltd. (NASDAQ:GRMN) has risen 28.63% since January 1, 2017 and is uptrending. It has outperformed by 11.93% the S&P500.

Cullen Capital Management Llc increased its stake in Merck & Co. Inc. (MRK) by 1.61% based on its latest 2017Q3 regulatory filing with the SEC. Cullen Capital Management Llc bought 18,240 shares as the company’s stock declined 2.46% while stock markets rallied. The institutional investor held 1.15M shares of the health care company at the end of 2017Q3, valued at $73.59M, up from 1.13 million at the end of the previous reported quarter. Cullen Capital Management Llc who had been investing in Merck & Co. Inc. for a number of months, seems to be bullish on the $153.30B market cap company. The stock decreased 0.58% or $0.33 during the last trading session, reaching $56.27. About 8.44 million shares traded. Merck & Co., Inc. (NYSE:MRK) has risen 16.86% since January 1, 2017 and is uptrending. It has outperformed by 0.16% the S&P500.

Investors sentiment decreased to 1.06 in Q3 2017. Its down 0.01, from 1.07 in 2017Q2. It turned negative, as 46 investors sold MRK shares while 619 reduced holdings. 106 funds opened positions while 598 raised stakes. 1.96 billion shares or 0.47% more from 1.95 billion shares in 2017Q2 were reported. Pettyjohn Wood And White invested in 0.86% or 36,182 shares. 1.66 million were accumulated by Keybank National Association Oh. Focused Wealth Mgmt Inc holds 0.25% of its portfolio in Merck & Co., Inc. (NYSE:MRK) for 11,537 shares. Regions Financial Corp has 1.35% invested in Merck & Co., Inc. (NYSE:MRK). Tdam Usa holds 0.59% or 156,703 shares in its portfolio. Cipher Limited Partnership invested 0.17% of its portfolio in Merck & Co., Inc. (NYSE:MRK). Caprock Grp has 0.54% invested in Merck & Co., Inc. (NYSE:MRK) for 40,284 shares. Tompkins Financial holds 52,722 shares or 0.8% of its portfolio. Dt Investment Prtn Ltd Liability Corp reported 3,706 shares. Fishman Jay A Limited Mi reported 67,753 shares. Nuveen Asset Lc accumulated 823,636 shares or 0.34% of the stock. Advisory Ntwk Limited Liability Company invested 0.29% of its portfolio in Merck & Co., Inc. (NYSE:MRK). Compton Management Ri invested in 21,234 shares or 0.61% of the stock. Seizert Partners Lc holds 0.09% or 39,632 shares in its portfolio. Jefferies invested in 0.29% or 688,701 shares.

Among 23 analysts covering Merck & Co. Inc. (NYSE:MRK), 15 have Buy rating, 0 Sell and 8 Hold. Therefore 65% are positive. Merck & Co. Inc. had 71 analyst reports since August 13, 2015 according to SRatingsIntel. The firm earned “Market Perform” rating on Monday, October 23 by Leerink Swann. As per Tuesday, March 15, the company rating was maintained by Jefferies. The rating was maintained by BMO Capital Markets on Thursday, October 12 with “Outperform”. The firm has “Buy” rating by BMO Capital Markets given on Friday, August 4. The stock of Merck & Co., Inc. (NYSE:MRK) has “Buy” rating given on Monday, October 30 by UBS. The firm earned “Outperform” rating on Tuesday, October 31 by BMO Capital Markets. Bernstein maintained Merck & Co., Inc. (NYSE:MRK) rating on Wednesday, November 15. Bernstein has “Buy” rating and $64.0 target. The firm has “Overweight” rating by Barclays Capital given on Tuesday, December 1. Berenberg initiated the shares of MRK in report on Tuesday, November 24 with “Buy” rating. BMO Capital Markets maintained Merck & Co., Inc. (NYSE:MRK) rating on Wednesday, July 19. BMO Capital Markets has “Buy” rating and $7400 target.

Cullen Capital Management Llc, which manages about $3.87 billion and $2.87B US Long portfolio, decreased its stake in China Mobile Ltd. (Adr) (NYSE:CHL) by 29,650 shares to 58,250 shares, valued at $2.95M in 2017Q3, according to the filing. It also reduced its holding in Ppl Corp. (NYSE:PPL) by 8,400 shares in the quarter, leaving it with 101,900 shares, and cut its stake in Gilead Sciences Inc. (NASDAQ:GILD).

Among 16 analysts covering Garmin Ltd. (NASDAQ:GRMN), 3 have Buy rating, 4 Sell and 9 Hold. Therefore 19% are positive. Garmin Ltd. had 30 analyst reports since July 30, 2015 according to SRatingsIntel. The rating was downgraded by Dougherty & Company to “Neutral” on Thursday, October 15. On Monday, October 19 the stock rating was upgraded by JP Morgan to “Neutral”. The firm has “Sell” rating by Goldman Sachs given on Wednesday, August 24. The rating was maintained by Credit Suisse with “Underperform” on Thursday, February 18. The rating was upgraded by Citigroup on Thursday, October 29 to “Neutral”. The stock has “Outperform” rating by RBC Capital Markets on Thursday, October 15. The rating was downgraded by JP Morgan on Thursday, February 18 to “Underweight”. As per Wednesday, August 2, the company rating was maintained by Oppenheimer. The firm has “Mkt Perform” rating given on Monday, August 22 by Raymond James. The stock has “Neutral” rating by DA Davidson on Friday, September 11.

Since August 4, 2017, it had 0 buys, and 11 sales for $32.80 million activity. 1,881 Garmin Ltd. (NASDAQ:GRMN) shares with value of $103,455 were sold by Desbois Patrick. Another trade for 755 shares valued at $45,904 was sold by Biddlecombe Sean. Another trade for 127,000 shares valued at $6.64M was sold by BURRELL JONATHAN. $223,630 worth of Garmin Ltd. (NASDAQ:GRMN) shares were sold by PEMBLE CLIFTON A. Shares for $351,062 were sold by Huang Pao-Chang.

Swiss National Bank, which manages about $87.81B US Long portfolio, upped its stake in Anthem Inc (NYSE:ANTM) by 11,300 shares to 1.04M shares, valued at $197.10M in 2017Q3, according to the filing. It also increased its holding in Mgic Invt Corp Wis (NYSE:MTG) by 51,700 shares in the quarter, for a total of 619,700 shares, and has risen its stake in Broadridge Finl Solutions In (NYSE:BR).