#7 - American Express (NYSE:AXP)
Another company that benefits from Buffett’s buy-and-hold mantra is American Express (AXP). The company has been in the Berkshire-Hathaway portfolio since the 1960s. Today, it is the fifth most valuable holding for Berkshire-Hathaway. The company owns 151.6 million shares of American Express that are valued at $15 billion. In full disclosure, Berkshire owns positions in MasterCard and Visa but his investment in both of those is nowhere near his position in American Express. The stock seemed to hit a bottom in 2016 when it sunk to $50 a share. Today, it is trading near $100 per share, seems to back up Buffett’s belief in the stock and the company. American Express reported second-quarter earnings per share of $1.84 on revenue that just exceeded $10 billion. The company recently went through some turbulence over a lawsuit regarding the company's alleged efforts to encourage retailers to stop nudging customers to use credit cards with lower merchant fees. The Supreme Court threw out the lawsuit in late June so the stock may regain some traction.
About American Express
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.
Read More - Current Price
- $301.21
- Consensus Rating
- Hold
- Ratings Breakdown
- 8 Buy Ratings, 13 Hold Ratings, 4 Sell Ratings.
- Consensus Price Target
- $253.09 (16.0% Downside)
