Ferrari (NYSE:RACE) Shares Sold by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC trimmed its position in shares of Ferrari (NYSE:RACE) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,177 shares of the company’s stock after selling 30 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Ferrari were worth $925,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. acquired a new position in Ferrari during the third quarter worth $267,000. Portside Wealth Group LLC grew its stake in shares of Ferrari by 14.0% during the 3rd quarter. Portside Wealth Group LLC now owns 602 shares of the company’s stock worth $283,000 after purchasing an additional 74 shares during the period. Verdence Capital Advisors LLC increased its holdings in shares of Ferrari by 11.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,277 shares of the company’s stock valued at $1,070,000 after purchasing an additional 240 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Ferrari by 11.1% in the 3rd quarter. Assetmark Inc. now owns 1,550 shares of the company’s stock valued at $729,000 after purchasing an additional 155 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of Ferrari by 15.8% in the third quarter. Lindbrook Capital LLC now owns 573 shares of the company’s stock valued at $269,000 after purchasing an additional 78 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RACE. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. Four 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, the stock has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Trading Up 0.8 %

Shares of Ferrari stock opened at $450.14 on Monday. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The business has a 50 day moving average price of $452.18 and a 200 day moving average price of $456.73. The company has a market capitalization of $109.10 billion, a P/E ratio of 49.20, a P/E/G ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari’s dividend payout ratio is currently 5.63%.

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.