Alpha Cubed Investments LLC Sells 548 Shares of American Express (NYSE:AXP)

Alpha Cubed Investments LLC trimmed its position in American Express (NYSE:AXP) by 33.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,111 shares of the payment services company’s stock after selling 548 shares during the quarter. Alpha Cubed Investments LLC’s holdings in American Express were worth $330,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in shares of American Express during the 3rd quarter worth $27,000. Kennebec Savings Bank acquired a new position in American Express during the third quarter worth about $29,000. True Wealth Design LLC lifted its holdings in shares of American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after acquiring an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of American Express in the 3rd quarter valued at approximately $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of American Express during the 3rd quarter valued at approximately $46,000. 84.33% of the stock is currently owned by institutional investors.

Insider Activity at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the transaction, the chief financial officer now owns 6,433 shares in the company, valued at approximately $1,952,286.84. This represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on AXP. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a research note on Saturday, January 11th. Morgan Stanley increased their price target on American Express from $252.00 to $305.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a research report on Tuesday, October 8th. Wells Fargo & Company increased their target price on American Express from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group boosted their price target on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $278.09.

American Express Trading Up 1.8 %

NYSE AXP opened at $318.07 on Wednesday. The stock has a market capitalization of $224.07 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.47 and a beta of 1.23. The business has a 50 day simple moving average of $299.65 and a 200 day simple moving average of $272.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a one year low of $184.06 and a one year high of $319.70.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.80 annualized dividend and a dividend yield of 0.88%. American Express’s dividend payout ratio is currently 20.60%.

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.