Beaird Harris Wealth Management LLC Has $63,000 Holdings in American Express (NYSE:AXP)

Beaird Harris Wealth Management LLC lessened its stake in American Express (NYSE:AXP) by 45.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 273 shares of the payment services company’s stock after selling 232 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in American Express were worth $63,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AXP. Sawgrass Asset Management LLC lifted its stake in American Express by 0.4% in the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after buying an additional 41 shares during the period. Ignite Planners LLC lifted its stake in American Express by 0.9% in the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after buying an additional 43 shares during the period. Willner & Heller LLC lifted its stake in American Express by 4.1% in the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after buying an additional 43 shares during the period. Beacon Capital Management LLC lifted its stake in American Express by 18.9% in the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock valued at $63,000 after buying an additional 43 shares during the period. Finally, Capital Wealth Planning LLC lifted its stake in American Express by 4.0% in the second quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock valued at $257,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Up 1.1 %

Shares of NYSE:AXP opened at $271.03 on Friday. The company has a market capitalization of $194.95 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The business has a fifty day moving average price of $251.17 and a two-hundred day moving average price of $238.61. American Express has a 1 year low of $140.91 and a 1 year high of $272.68.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.89 EPS. Analysts forecast that American Express will post 13.13 earnings per share for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. American Express’s dividend payout ratio is presently 23.06%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AXP shares. Monness Crespi & Hardt boosted their price target on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Barclays boosted their price objective on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Citigroup began coverage on American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective for the company. Wells Fargo & Company boosted their price objective on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods boosted their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $230.78.

American Express Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.