Bank of America Corp DE Has $645,000 Holdings in Icahn Enterprises L.P. (NASDAQ:IEP)

Bank of America Corp DE lessened its holdings in shares of Icahn Enterprises L.P. (NASDAQ:IEP) by 28.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 74,403 shares of the conglomerate’s stock after selling 29,442 shares during the period. Bank of America Corp DE’s holdings in Icahn Enterprises were worth $645,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Meridian Wealth Management LLC grew its stake in shares of Icahn Enterprises by 5.1% in the 4th 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. Global Retirement Partners LLC lifted its stake in shares of Icahn Enterprises by 18.1% in the 4th quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock valued at $62,000 after purchasing an additional 1,089 shares during the period. National Bank of Canada FI lifted its stake in shares of Icahn Enterprises by 11.1% in the 4th quarter. National Bank of Canada FI now owns 25,000 shares of the conglomerate’s stock valued at $217,000 after purchasing an additional 2,500 shares during the period. Moors & Cabot Inc. increased its position in shares of Icahn Enterprises by 8.1% in the 4th quarter. Moors & Cabot Inc. now owns 48,355 shares of the conglomerate’s stock valued at $419,000 after buying an additional 3,642 shares in the last quarter. Finally, Triumph Capital Management increased its position in shares of Icahn Enterprises by 27.0% in the 4th quarter. Triumph Capital Management now owns 21,254 shares of the conglomerate’s stock valued at $184,000 after buying an additional 4,521 shares in the last quarter. Institutional investors and hedge funds own 87.09% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Icahn Enterprises from a “sell” rating to a “hold” rating in a report on Saturday, May 17th.

Icahn Enterprises Price Performance

Shares of NASDAQ IEP opened at $8.39 on Tuesday. Icahn Enterprises L.P. has a fifty-two week low of $7.27 and a fifty-two week high of $17.93. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of -7.70 and a beta of 0.79. The business has a 50-day moving average of $8.59 and a 200-day moving average of $9.33. 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, May 7th. The conglomerate reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.98). The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.63 billion. Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. As a group, sell-side analysts predict that Icahn Enterprises L.P. will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Monday, May 19th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.00 annualized dividend and a dividend yield of 23.84%. Icahn Enterprises’s dividend payout ratio is -121.21%.

Icahn Enterprises Company Profile

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.