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Pinnacle Holdings Bets Big on American Express

Guavy AI Editorial Team
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AXP
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Pinnacle Holdings LLC has taken a significant position in American Express Company (NYSE: AXP), buying 9,599 shares valued at approximately $3.25 million in the second quarter, according to its latest Form 13F filing.

This is not an isolated move as several other institutional investors and hedge funds have also made changes to their positions in AXP during the same period.

American Express reported a 10% increase in revenue for the quarter, beating analysts' expectations. The company's quarterly earnings per share of $4.53 topped estimates by $0.12.

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