American Express Company (NYSE:AXP) is one of the 10 Best Long-Term Stocks to Buy Now According to Warren Buffett.
Payment card and travel services provider American Express Company (NYSE:AXP) is perhaps Warren Buffett’s best-known stock pick
He first bought the shares in 1964 when the firm’s shares sank during the Salad Oil Scandal. Buffett then bought a stake in 1991 and continued in the 1990s. However, since then, it hasn’t done much with the stock.
In Q4 2010, according to Insider Monkey’s data, Berkshire Hathaway held 151 million American Express Company (NYSE:AXP) shares that were worth $6.5 billion. It still holds the same number of shares, and the stake’s latest value is $45.8 billion. DBZ Bank discussed the firm on June 18th as it upgraded the shares to Buy from Hold and set a $375 share price target.