SVB Wealth LLC Acquires Shares of 608 Ferrari (NYSE:RACE)

SVB Wealth LLC acquired a new stake in shares of Ferrari (NYSE:RACE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 608 shares of the company's stock, valued at approximately $258,000.

A number of other institutional investors also recently added to or reduced their stakes in RACE. Hanson & Doremus Investment Management acquired a new position in shares of Ferrari in the 4th quarter worth approximately $26,000. Planning Capital Management Corp acquired a new position in shares of Ferrari in the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC acquired a new position in shares of Ferrari in the 3rd quarter worth approximately $33,000. Hobbs Group Advisors LLC acquired a new position in shares of Ferrari in the 3rd quarter worth approximately $47,000. Finally, Armstrong Advisory Group Inc. boosted its holdings in shares of Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock worth $42,000 after acquiring an additional 50 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on RACE. UBS Group boosted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating for the company. Barclays cut shares of Ferrari from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, February 5th. Finally, StockNews.com cut shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Ferrari currently has an average rating of "Moderate Buy" and a consensus target price of $507.14.

Ferrari Stock Performance

Shares of Ferrari stock opened at $458.40 on Thursday. The firm has a fifty day moving average of $451.53 and a two-hundred day moving average of $457.11. The stock has a market capitalization of $111.10 billion, a price-to-earnings ratio of 50.10, a PEG ratio of 4.43 and a beta of 0.95. Ferrari has a 52 week low of $399.27 and a 52 week 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.

Ferrari Increases Dividend

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

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.

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