SVB Wealth LLC Decreases Holdings in Delta Air Lines, Inc. $DAL

SVB Wealth LLC decreased its stake in Delta Air Lines, Inc. (NYSE:DAL) by 36.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 11,017 shares of the transportation company’s stock after selling 6,307 shares during the period. SVB Wealth LLC’s holdings in Delta Air Lines were worth $732,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Accredited Wealth Management LLC increased its stake in shares of Delta Air Lines by 1,983.3% during the 3rd quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company’s stock worth $28,000 after purchasing an additional 476 shares during the last quarter. Lloyd Advisory Services LLC. bought a new position in Delta Air Lines during the fourth quarter valued at $31,000. SWAN Capital LLC grew its holdings in Delta Air Lines by 1,016.0% during the third quarter. SWAN Capital LLC now owns 558 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 508 shares during the period. Camelot Portfolios LLC purchased a new stake in Delta Air Lines in the fourth quarter worth $34,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Delta Air Lines by 451.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock valued at $34,000 after buying an additional 429 shares during the period. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Delta Air Lines news, EVP Allison C. Ausband sold 9,710 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $76.00, for a total value of $737,960.00. Following the completion of the transaction, the executive vice president owned 138,854 shares of the company’s stock, valued at $10,552,904. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alain Bellemare sold 25,000 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 95,025 shares in the company, valued at $7,738,836. The trade was a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 149,635 shares of company stock worth $10,833,855. Insiders own 0.80% of the company’s stock.

More Delta Air Lines News

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on DAL shares. Morgan Stanley lifted their price objective on Delta Air Lines from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Raymond James Financial increased their target price on shares of Delta Air Lines from $76.00 to $80.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 9th. TD Cowen lifted their target price on shares of Delta Air Lines from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Zacks Research raised shares of Delta Air Lines from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Finally, Bank of America upped their price target on shares of Delta Air Lines from $78.00 to $93.00 and gave the company a “buy” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.68.

Delta Air Lines Price Performance

NYSE:DAL opened at $86.75 on Wednesday. Delta Air Lines, Inc. has a 52-week low of $48.12 and a 52-week high of $87.39. The stock has a fifty day moving average of $75.43 and a 200 day moving average of $70.57. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.42. The firm 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.

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

Delta Air Lines Increases Dividend

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

Delta Air Lines Company Profile

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.