GC Wealth Management RIA LLC Sells 65 Shares of Ferrari (NYSE:RACE)

GC Wealth Management RIA LLC lowered its position in shares of Ferrari (NYSE:RACE) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 859 shares of the company’s stock after selling 65 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Ferrari were worth $365,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of RACE. Hanson & Doremus Investment Management bought a new position in shares of Ferrari during the 4th quarter worth about $26,000. Planning Capital Management Corp bought a new position in shares of Ferrari during the 3rd quarter worth about $30,000. Ashton Thomas Securities LLC bought a new position in shares of Ferrari during the 3rd quarter worth about $33,000. Armstrong Advisory Group Inc. boosted its position in shares of Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after purchasing an additional 50 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new position in shares of Ferrari during the 4th quarter worth about $45,000.

Ferrari Trading Up 1.3 %

NYSE:RACE opened at $442.66 on Wednesday. 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 $107.29 billion, a price-to-earnings ratio of 48.38, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13. The firm has a 50-day moving average price of $452.75 and a two-hundred day moving average price of $456.16.

Ferrari Increases Dividend

The company 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 $3.1265 dividend. This is a positive change from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is 5.63%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Company 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.