Moisand Fitzgerald Tamayo LLC trimmed its position in shares of American Express (NYSE:AXP) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,456 shares of the payment services company’s stock after selling 100 shares during the period. Moisand Fitzgerald Tamayo LLC’s holdings in American Express were worth $428,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in AXP. Sheets Smith Wealth Management acquired a new position in American Express during the 1st quarter worth $448,000. Chelsea Counsel Co. acquired a new position in shares of American Express in the 4th quarter valued at about $30,000. Steward Financial Group LLC boosted its holdings in shares of American Express by 104.9% in the 1st quarter. Steward Financial Group LLC now owns 211 shares of the payment services company’s stock valued at $34,000 after buying an additional 108 shares during the period. Focused Wealth Management Inc boosted its holdings in shares of American Express by 1,400.0% in the 1st quarter. Focused Wealth Management Inc now owns 225 shares of the payment services company’s stock valued at $37,000 after buying an additional 210 shares during the period. Finally, Addison Advisors LLC boosted its holdings in shares of American Express by 44.8% in the 1st quarter. Addison Advisors LLC now owns 239 shares of the payment services company’s stock valued at $39,000 after buying an additional 74 shares during the period. 83.08% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently weighed in on AXP shares. Bank of America cut their price objective on shares of American Express from $205.00 to $203.00 and set a “buy” rating on the stock in a research report on Monday, July 24th. StockNews.com began coverage on shares of American Express in a research report on Thursday, August 17th. They set a “hold” rating on the stock. 22nd Century Group restated a “reiterates” rating on shares of American Express in a research report on Friday, June 30th. 51job restated a “reiterates” rating on shares of American Express in a research report on Friday, June 30th. Finally, Piper Sandler downgraded shares of American Express from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $172.00 to $149.00 in a research report on Monday, July 24th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $173.06.
American Express Trading Down 0.6 %
Shares of American Express stock traded down $0.93 during trading on Tuesday, hitting $158.70. The stock had a trading volume of 464,552 shares, compared to its average volume of 3,178,675. The stock has a 50 day simple moving average of $164.69 and a 200 day simple moving average of $163.63. The company has a market capitalization of $116.88 billion, a PE ratio of 16.24, a P/E/G ratio of 1.03 and a beta of 1.19. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.75. American Express has a 1 year low of $130.65 and a 1 year high of $182.15.
American Express (NYSE:AXP – Get Free Report) last released its earnings results on Friday, July 21st. The payment services company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.08. The business had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $15.41 billion. American Express had a net margin of 12.99% and a return on equity of 29.26%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted $2.57 earnings per share. On average, research analysts expect that American Express will post 11.13 EPS for the current fiscal year.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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