Wealth Alliance Sells 131 Shares of Ferrari (NYSE:RACE)

Wealth Alliance decreased its stake in shares of Ferrari (NYSE:RACE) by 13.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 840 shares of the company’s stock after selling 131 shares during the quarter. Wealth Alliance’s holdings in Ferrari were worth $284,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Ferrari by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock worth $1,312,614,000 after purchasing an additional 61,132 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Ferrari by 39.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,728,335 shares of the company’s stock worth $468,275,000 after purchasing an additional 484,782 shares during the period. Norges Bank bought a new position in shares of Ferrari during the 4th quarter worth about $354,547,000. Bank of New York Mellon Corp increased its holdings in shares of Ferrari by 0.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,635,501 shares of the company’s stock worth $483,356,000 after purchasing an additional 5,310 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Ferrari by 24.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,466,627 shares of the company’s stock worth $476,962,000 after purchasing an additional 284,169 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RACE shares. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Citigroup cut shares of Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Bank of America upped their target price on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, UBS Group upped their target price on shares of Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $393.86.

Ferrari Stock Down 0.8 %

NYSE:RACE opened at $412.52 on Friday. Ferrari has a 12 month low of $272.70 and a 12 month high of $442.80. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91. The company’s 50-day moving average price is $416.64 and its two-hundred day moving average price is $366.18.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.15. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.61 billion. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. Equities analysts predict that Ferrari will post 8.31 EPS for the current year.

Ferrari Announces Dividend

The business also recently announced an annual dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be given a dividend of $2.443 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a dividend yield of 0.62%.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.