LPL Financial LLC Purchases 4,028 Shares of Icahn Enterprises L.P. (NASDAQ:IEP)

LPL Financial LLC grew its position in shares of Icahn Enterprises L.P. (NASDAQ:IEP – Get Rating) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,612 shares of the conglomerate’s stock after purchasing an additional 4,028 shares during the period. LPL Financial LLC’s holdings in Icahn Enterprises were worth $7,021,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Lee Financial Co lifted its stake in Icahn Enterprises by 4.4% during the third quarter. Lee Financial Co now owns 4,406 shares of the conglomerate’s stock worth $219,000 after purchasing an additional 185 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Icahn Enterprises by 1.0% in the third quarter. Kingsview Wealth Management LLC now owns 22,524 shares of the conglomerate’s stock worth $1,119,000 after buying an additional 217 shares during the period. Jeppson Wealth Management LLC increased its holdings in shares of Icahn Enterprises by 6.6% in the fourth quarter. Jeppson Wealth Management LLC now owns 4,631 shares of the conglomerate’s stock worth $235,000 after buying an additional 287 shares during the period. Evanson Asset Management LLC increased its holdings in shares of Icahn Enterprises by 4.0% in the fourth quarter. Evanson Asset Management LLC now owns 7,693 shares of the conglomerate’s stock worth $390,000 after buying an additional 294 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Icahn Enterprises by 140.8% in the first quarter. Geneos Wealth Management Inc. now owns 513 shares of the conglomerate’s stock worth $26,000 after buying an additional 300 shares during the period. Institutional investors own 86.86% of the company’s stock.

Icahn Enterprises Stock Up 11.8 %

Shares of NASDAQ:IEP opened at $35.40 on Friday. Icahn Enterprises L.P. has a 1 year low of $28.29 and a 1 year high of $55.55. The company has a market cap of $13.07 billion, a PE ratio of -15.59 and a beta of 0.75. The company has a debt-to-equity ratio of 0.74, a current ratio of 6.79 and a quick ratio of 6.79. The stock’s 50-day moving average is $48.68 and its 200 day moving average is $51.27.

Icahn Enterprises (NASDAQ:IEP – Get Rating) last announced its quarterly earnings results on Friday, February 24th. The conglomerate reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.89). Icahn Enterprises had a negative net margin of 1.41% and a negative return on equity of 1.86%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Sell-side analysts anticipate that Icahn Enterprises L.P. will post 0.67 EPS for the current year.

Icahn Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Monday, May 22nd will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, May 19th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 22.60%. Icahn Enterprises’s dividend payout ratio (DPR) is -352.42%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Icahn Enterprises from a “hold” rating to a “sell” rating in a report on Friday.

Icahn Enterprises Company Profile

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Icahn Enterprises LP operates as holding company. It operates through following eight business segments: Investment, Automotive, Energy, Food Packaging, Metals, Real Estate, Home Fashion, and Pharma. The Investment segment consists of various private investment funds. The Automotive segment holds ownership in Icahn Automotive Group LLC.