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

Bank of America Corp DE reduced its stake in shares of Icahn Enterprises L.P. (NASDAQ:IEP) by 28.4% in the fourth quarter, Holdings Channel reports. The fund owned 74,403 shares of the conglomerate’s stock after selling 29,442 shares during the quarter. Bank of America Corp DE’s holdings in Icahn Enterprises were worth $645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of IEP. Icahn Carl C lifted its stake in Icahn Enterprises by 4.1% in the fourth quarter. Icahn Carl C now owns 450,788,170 shares of the conglomerate’s stock worth $3,908,333,000 after purchasing an additional 17,581,237 shares during the last quarter. First Trust Advisors LP boosted its holdings in Icahn Enterprises by 26.2% in the fourth quarter. First Trust Advisors LP now owns 660,077 shares of the conglomerate’s stock worth $5,723,000 after purchasing an additional 137,012 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Icahn Enterprises during the 4th quarter worth $969,000. Virtu Financial LLC bought a new stake in shares of Icahn Enterprises during the 4th quarter valued at $856,000. Finally, Axxcess Wealth Management LLC bought a new stake in Icahn Enterprises in the 4th quarter valued at $447,000. 87.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Icahn Enterprises Trading Down 0.6%

NASDAQ:IEP opened at $8.39 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61. The firm has a market cap of $4.58 billion, a P/E ratio of -7.70 and a beta of 0.79. The firm has a 50-day simple moving average of $8.59 and a 200-day simple moving average of $9.33. Icahn Enterprises L.P. has a one year low of $7.27 and a one year high of $17.93.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings results on Wednesday, May 7th. The conglomerate reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.98). Icahn Enterprises had a negative net margin of 4.79% and a negative return on equity of 8.82%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.63 billion. Equities analysts anticipate that Icahn Enterprises L.P. will post -0.55 EPS 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. Stockholders of record on Monday, May 19th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 23.84%. The ex-dividend date of this dividend is Monday, May 19th. Icahn Enterprises’s dividend payout ratio (DPR) is currently -121.21%.

Icahn Enterprises 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.