Whipplewood Advisors LLC Buys Shares of 863 Ferrari (NYSE:RACE)

Whipplewood Advisors LLC bought a new position in shares of Ferrari (NYSE:RACE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 863 shares of the company's stock, valued at approximately $367,000.

Other large investors have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. purchased a new position in Ferrari during the third quarter worth about $29,000. Hanson & Doremus Investment Management purchased a new position in shares of Ferrari in the 4th quarter worth about $26,000. Planning Capital Management Corp purchased a new position in shares of Ferrari in the 3rd quarter worth about $30,000. Ashton Thomas Securities LLC purchased a new position in shares of Ferrari in the 3rd quarter worth about $33,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Ferrari in the 3rd quarter worth about $47,000.

Ferrari Stock Up 0.9 %

Shares of NYSE:RACE traded up $3.97 during mid-day trading on Friday, hitting $464.47. 572,775 shares of the company traded hands, compared to its average volume of 372,951. The firm has a market cap of $113.21 billion, a P/E ratio of 50.76, a PEG ratio of 4.43 and a beta of 0.95. 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 has a 52-week low of $399.27 and a 52-week high of $509.13. The firm's 50 day simple moving average is $449.85 and its 200 day simple moving average is $457.01.

Ferrari Increases Dividend

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

Wall Street Analyst Weigh In

RACE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. UBS Group raised their price objective on Ferrari from $478.00 to $513.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Finally, Barclays downgraded Ferrari from an "overweight" rating to an "equal weight" rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $507.14.

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.