American Express Company (AXP) Position Held by Berkshire Hathaway Inc.
Berkshire Hathaway Inc. held its position in American Express Company (NYSE:AXP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 151,610,700 shares of the payment services company’s stock at the end of the second quarter. American Express accounts for approximately 7.9% of Berkshire Hathaway Inc.’s portfolio, making the stock its 5th largest holding. Berkshire Hathaway Inc. owned about 17.15% of American Express worth $12,771,685,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AXP. MCF Advisors LLC increased its holdings in shares of American Express by 0.3% during the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after buying an additional 4 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of American Express by 30.4% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after buying an additional 300 shares during the last quarter. Capital Analysts LLC acquired a new stake in shares of American Express during the 2nd quarter worth approximately $115,000. SRS Capital Advisors Inc. increased its holdings in shares of American Express by 10.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after buying an additional 138 shares during the last quarter. Finally, Westside Investment Management Inc. increased its holdings in shares of American Express by 36.7% during the 1st quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after buying an additional 410 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Anre D. Williams sold 30,761 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total value of $2,873,385.01. Following the completion of the sale, the insider now directly owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James Peter Bush sold 10,230 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total transaction of $926,326.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,345 shares of company stock valued at $13,716,103. 0.67% of the stock is owned by corporate insiders.
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A number of brokerages have recently issued reports on AXP. Stephens set a $89.00 price target on shares of American Express and gave the stock a “hold” rating in a report on Thursday, October 19th. Buckingham Research started coverage on shares of American Express in a report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 target price for the company. Keefe, Bruyette & Woods set a $95.00 target price on shares of American Express and gave the company a “buy” rating in a report on Saturday, August 19th. BidaskClub upgraded shares of American Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Jefferies Group LLC reiterated an “in-line” rating and issued a $93.00 target price (up previously from $85.00) on shares of American Express in a report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $91.56.
Shares of American Express Company (AXP) opened at $93.82 on Friday. The stock has a market cap of $81,435.41, a price-to-earnings ratio of 17.97, a PEG ratio of 1.56 and a beta of 1.22. American Express Company has a 1 year low of $71.38 and a 1 year high of $96.90. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 EPS. research analysts anticipate that American Express Company will post 5.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, October 6th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This is a boost from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.49%. American Express’s payout ratio is 26.97%.
American Express Company Profile
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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