Mezzasalma Advisors LLC Has $224,000 Stock Holdings in American Express (NYSE:AXP)

Mezzasalma Advisors LLC trimmed its holdings in shares of American Express (NYSE:AXP) by 46.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 966 shares of the payment services company’s stock after selling 849 shares during the period. Mezzasalma Advisors LLC’s holdings in American Express were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Sawgrass Asset Management LLC lifted its position in shares of 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 worth $2,404,000 after purchasing an additional 41 shares in the last quarter. Spire Wealth Management boosted its stake in shares of American Express by 1.0% during the 1st quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock valued at $983,000 after buying an additional 42 shares during the period. Ignite Planners LLC grew its holdings in shares of American Express by 0.9% during the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after acquiring an additional 43 shares in the last quarter. Willner & Heller LLC increased its stake in shares of American Express by 4.1% in the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after acquiring an additional 43 shares during the last quarter. Finally, Beacon Capital Management LLC raised its holdings in shares of American Express by 18.9% during the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock worth $63,000 after acquiring an additional 43 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

NYSE AXP traded down $1.19 during midday trading on Friday, hitting $258.65. The company had a trading volume of 3,442,125 shares, compared to its average volume of 2,963,967. The firm has a fifty day simple moving average of $241.85 and a two-hundred day simple moving average of $232.27. The stock has a market cap of $186.05 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 1.38 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $261.75.

American Express (NYSE:AXP) last released its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion for 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 firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the business earned $2.89 earnings per share. Equities analysts forecast that American Express will post 13.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on AXP. William Blair restated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Bank of America downgraded American Express from a “buy” rating to a “neutral” rating and set a $263.00 price objective on the stock. in a report on Wednesday, August 21st. Keefe, Bruyette & Woods lifted their target price on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Jefferies Financial Group boosted their target price on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company raised their price target on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Express currently has an average rating of “Hold” and an average price target of $230.70.

American Express Company 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.