Nebula Research & Development LLC Sells 2,412 Shares of Ferrari (NYSE:RACE)

Nebula Research & Development LLC cut its stake in Ferrari (NYSE:RACE - Free Report) by 75.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 780 shares of the company's stock after selling 2,412 shares during the period. Nebula Research & Development LLC's holdings in Ferrari were worth $331,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Barclays PLC grew its stake in Ferrari by 6.1% during the third quarter. Barclays PLC now owns 286,564 shares of the company's stock worth $134,719,000 after buying an additional 16,428 shares in the last quarter. Morse Asset Management Inc increased its stake in Ferrari by 1.6% in the third quarter. Morse Asset Management Inc now owns 5,239 shares of the company's stock valued at $2,462,000 after acquiring an additional 83 shares during the last quarter. Sculati Wealth Management LLC raised its position in Ferrari by 2.0% during the third quarter. Sculati Wealth Management LLC now owns 6,029 shares of the company's stock valued at $2,628,000 after purchasing an additional 120 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Ferrari during the third quarter worth $417,000. Finally, Franklin Resources Inc. raised its stake in Ferrari by 60.0% during the third quarter. Franklin Resources Inc. now owns 22,055 shares of the company's stock worth $10,707,000 after acquiring an additional 8,267 shares in the last quarter.

Ferrari Trading Up 0.6 %

NYSE:RACE traded up $2.80 on Friday, reaching $462.92. 408,398 shares of the stock traded hands, compared to its average volume of 331,457. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13. The company's 50 day moving average is $441.15 and its 200-day moving average is $447.06. The firm has a market capitalization of $112.20 billion, a price-to-earnings ratio of 50.59, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13.

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 issued a $3.1265 dividend. This is a positive change from Ferrari's previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a yield of 0.5%. Ferrari's payout ratio is presently 5.63%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group dropped their price objective on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Ferrari presently has an average rating of "Moderate Buy" and a consensus target price of $481.60.

Ferrari 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.