SVB Wealth LLC Sells 6,307 Shares of Delta Air Lines, Inc. $DAL

SVB Wealth LLC reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 36.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,017 shares of the transportation company’s stock after selling 6,307 shares during the quarter. SVB Wealth LLC’s holdings in Delta Air Lines were worth $732,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DAL. Lloyd Advisory Services LLC. acquired a new position in shares of Delta Air Lines during the fourth quarter worth approximately $31,000. Camelot Portfolios LLC acquired a new stake in Delta Air Lines in the 4th quarter valued at $34,000. Accredited Wealth Management LLC grew its position in Delta Air Lines by 1,983.3% in the 3rd quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 476 shares during the period. Byrne Asset Management LLC bought a new stake in Delta Air Lines during the 4th quarter valued at $35,000. Finally, Beacon Financial Strategies CORP bought a new stake in Delta Air Lines during the 4th quarter valued at $36,000. Institutional investors own 69.93% of the company’s stock.

Wall Street Analyst Weigh In

DAL has been the topic of a number of recent research reports. Argus raised their price objective on shares of Delta Air Lines from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Monday. Seaport Research Partners boosted their target price on shares of Delta Air Lines from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Zacks Research upgraded shares of Delta Air Lines from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. Evercore reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Delta Air Lines in a research report on Friday, April 17th. Finally, Susquehanna cut their price target on Delta Air Lines from $81.00 to $78.00 and set a “positive” rating for the company in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $82.68.

Delta Air Lines Price Performance

DAL opened at $86.75 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.42 and a quick ratio of 0.36. The company has a market capitalization of $56.99 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 1.22 and a beta of 1.30. The firm’s fifty day moving average price is $75.43 and its two-hundred day moving average price is $70.57. Delta Air Lines, Inc. has a 1 year low of $48.12 and a 1 year high of $87.39.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the business posted $0.46 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that Delta Air Lines, Inc. will post 5.34 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th will be paid a $0.215 dividend. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, July 9th. This represents a $0.86 annualized dividend and a yield of 1.0%. Delta Air Lines’s dividend payout ratio (DPR) is 12.54%.

Trending Headlines about Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Bank of America raised its price target on Delta to $93 from $78 and kept a buy rating, signaling confidence in further upside. Bank of America raises Delta price target
• Positive Sentiment: Argus also lifted its target to $100 from $85 and reiterated a buy rating, adding to the bullish analyst momentum. Argus raises Delta price target
• Positive Sentiment: Josh Brown recommended sticking with Delta as one of three winning stocks, saying its recent outperformance supports owning it for the long term. Josh Brown recommends Delta
• Positive Sentiment: Berkshire Hathaway disclosed a large new stake in Delta Air Lines, which investors may interpret as a major vote of confidence from a highly respected value investor. Berkshire buys Delta shares
• Neutral Sentiment: Delta shareholders backed the current board and governance structure at the annual meeting, removing a potential source of uncertainty but not changing the company’s operating outlook. Delta shareholders back board governance status quo
• Neutral Sentiment: CEO Ed Bastian said airline ticket prices should ease only when more supply enters the market, highlighting industry capacity constraints rather than a company-specific issue. Delta CEO on ticket prices

Insider Buying and Selling at Delta Air Lines

In related news, EVP Alain Bellemare sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares of the company’s stock, valued at approximately $7,738,836. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Allison C. Ausband sold 5,000 shares of Delta Air Lines stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $79.00, for a total value of $395,000.00. Following the sale, the executive vice president owned 133,854 shares in the company, valued at $10,574,466. This trade represents a 3.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 149,635 shares of company stock worth $10,833,855. Insiders own 0.80% of the company’s stock.

About Delta Air Lines

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.