Ferrari (NYSE:RACE) Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG trimmed its position in shares of Ferrari (NYSE:RACE - Free Report) by 13.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,963 shares of the company's stock after selling 2,577 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Ferrari were worth $7,266,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Hanson & Doremus Investment Management purchased a new stake in Ferrari in the 4th quarter valued at $26,000. Armstrong Advisory Group Inc. grew its holdings in Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock valued at $42,000 after buying an additional 50 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Ferrari in the 4th quarter valued at $45,000. Plato Investment Management Ltd purchased a new stake in Ferrari in the 4th quarter valued at $53,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in Ferrari by 705.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock valued at $58,000 after buying an additional 120 shares in the last quarter.

Ferrari Trading Up 0.8 %

RACE traded up $3.88 during mid-day trading on Friday, hitting $460.70. 250,164 shares of the stock were exchanged, compared to its average volume of 328,915. The firm's fifty day moving average is $445.37 and its two-hundred day moving average is $447.11. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company has a market cap of $111.66 billion, a PE ratio of 50.35, a PEG ratio of 4.43 and a beta of 1.03.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. This is a positive change from Ferrari's previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. Ferrari's dividend payout ratio is presently 5.63%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. JPMorgan Chase & Co. decreased their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. UBS Group decreased their price target on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Finally, Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Ferrari presently has a consensus rating of "Moderate Buy" and a consensus target price of $481.60.

About Ferrari

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.