Alliancebernstein L.P. Sells 18,346 Shares of Ferrari (NYSE:RACE)

Alliancebernstein L.P. reduced its position in Ferrari (NYSE:RACE - Free Report) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,635,392 shares of the company's stock after selling 18,346 shares during the quarter. Alliancebernstein L.P. owned about 0.67% of Ferrari worth $694,780,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Ferrari in the fourth quarter worth approximately $697,226,000. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Ferrari by 380.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock worth $107,770,000 after buying an additional 192,694 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of Ferrari by 1,226.4% during the 4th quarter. Corient Private Wealth LLC now owns 132,694 shares of the company's stock valued at $56,153,000 after buying an additional 122,690 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in shares of Ferrari during the 4th quarter valued at $46,908,000. Finally, Quadrature Capital Ltd lifted its holdings in shares of Ferrari by 83.7% during the 3rd quarter. Quadrature Capital Ltd now owns 231,279 shares of the company's stock worth $108,417,000 after acquiring an additional 105,390 shares during the last quarter.

Ferrari Trading Down 0.9 %

Shares of NYSE RACE traded down $3.96 during mid-day trading on Thursday, hitting $434.58. The stock had a trading volume of 430,652 shares, compared to its average volume of 309,086. The business has a 50 day moving average price of $455.78 and a two-hundred day moving average price of $451.54. 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 quick ratio of 3.55 and a current ratio of 4.57. The firm has a market cap of $105.33 billion, a P/E ratio of 47.50, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94.

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Ferrari Increases Dividend

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

Analyst Ratings Changes

A number of research analysts recently commented on RACE shares. StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. JPMorgan Chase & Co. decreased their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating for the company. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $490.29.

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.