Axxcess Wealth Management LLC Invests $447,000 in Icahn Enterprises L.P. (NASDAQ:IEP)

Axxcess Wealth Management LLC bought a new stake in Icahn Enterprises L.P. (NASDAQ:IEP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 51,537 shares of the conglomerate’s stock, valued at approximately $447,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moors & Cabot Inc. raised its position in Icahn Enterprises by 8.1% during the 4th quarter. Moors & Cabot Inc. now owns 48,355 shares of the conglomerate’s stock worth $419,000 after buying an additional 3,642 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Icahn Enterprises during the fourth quarter worth $969,000. Meridian Wealth Management LLC lifted its position in Icahn Enterprises by 5.1% during the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the conglomerate’s stock valued at $184,000 after purchasing an additional 1,026 shares during the period. Corps Capital Advisors LLC purchased a new stake in Icahn Enterprises in the fourth quarter valued at $198,000. Finally, Global Retirement Partners LLC grew its position in Icahn Enterprises by 18.1% during the 4th quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock worth $62,000 after purchasing an additional 1,089 shares during the period. Hedge funds and other institutional investors own 87.09% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Icahn Enterprises from a “hold” rating to a “sell” rating in a research note on Sunday, March 16th.

Icahn Enterprises Price Performance

NASDAQ:IEP opened at $9.69 on Friday. The company has a 50 day moving average price of $9.72 and a 200-day moving average price of $11.10. Icahn Enterprises L.P. has a 1-year low of $8.53 and a 1-year high of $19.10. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of -8.89 and a beta of 0.85. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings data on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.36). Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.27 billion. Equities research analysts forecast that Icahn Enterprises L.P. will post -0.55 EPS for the current year.

Icahn Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 20.64%. The ex-dividend date of this dividend is Monday, March 10th. Icahn Enterprises’s dividend payout ratio (DPR) is presently -210.53%.

About Icahn Enterprises

Icahn Enterprises L.P., through its subsidiaries, engages in the investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. The Investment segment invests its proprietary capital through various private investment funds. This segment provides investment advisory and other related services.