Axxcess Wealth Management LLC Takes Position in Icahn Enterprises L.P. (NASDAQ:IEP)

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

Other large investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Icahn Enterprises during the 4th quarter worth approximately $969,000. Merit Financial Group LLC acquired a new position in Icahn Enterprises in the fourth quarter valued at $343,000. Corps Capital Advisors LLC bought a new stake in Icahn Enterprises during the fourth quarter valued at $198,000. SG Americas Securities LLC acquired a new stake in Icahn Enterprises during the 4th quarter worth about $193,000. Finally, Meridian Wealth Management LLC bought a new position in shares of Icahn Enterprises in the 3rd quarter worth about $272,000. Institutional investors own 87.09% of the company's stock.

Icahn Enterprises Stock Up 0.9 %

Icahn Enterprises stock traded up $0.08 during mid-day trading on Wednesday, reaching $9.36. The stock had a trading volume of 225,090 shares, compared to its average volume of 929,095. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61. Icahn Enterprises L.P. has a fifty-two week low of $8.53 and a fifty-two week high of $19.10. The stock's 50-day simple moving average is $9.74 and its 200-day simple moving average is $11.05. The firm has a market capitalization of $4.89 billion, a PE ratio of -8.59 and a beta of 0.85.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The conglomerate reported ($0.19) EPS 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 company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. On average, sell-side analysts forecast that Icahn Enterprises L.P. will post -0.55 EPS for the current fiscal year.

Icahn Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 21.37%. The ex-dividend date of this dividend is Monday, March 10th. Icahn Enterprises's dividend payout ratio (DPR) is presently -210.53%.

Analyst Ratings Changes

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

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.