Delta Air Lines, Inc. $DAL Shares Bought by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors LLC increased its Delta Air Lines stake by 54% in the fourth quarter, bringing its holdings to 44,302 shares valued at about $3.1 million.
• Delta reported better-than-expected quarterly results, earning $0.64 per share on revenue of $14.2 billion, both slightly ahead of analyst estimates and up 9.4% year over year.
• The company declared a quarterly dividend of $0.1875 per share, while analysts remain mostly bullish with a consensus Moderate Buy rating and an average price target of $79.47.

Sequoia Financial Advisors LLC raised its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 54.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,302 shares of the transportation company's stock after buying an additional 15,531 shares during the period. Sequoia Financial Advisors LLC's holdings in Delta Air Lines were worth $3,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of DAL. AlphaQuest LLC raised its holdings in shares of Delta Air Lines by 90.6% in the 3rd quarter. AlphaQuest LLC now owns 444 shares of the transportation company's stock valued at $25,000 after buying an additional 211 shares during the period. Accredited Wealth Management LLC boosted its holdings in 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 valued at $28,000 after acquiring an additional 476 shares during the period. SWAN Capital LLC boosted its holdings in Delta Air Lines by 1,016.0% during the 3rd quarter. SWAN Capital LLC now owns 558 shares of the transportation company's stock valued at $32,000 after acquiring an additional 508 shares during the period. Camelot Portfolios LLC acquired a new position in Delta Air Lines in the 4th quarter valued at about $34,000. Finally, Cornerstone Planning Group LLC increased its stake in Delta Air Lines by 451.6% during the fourth quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company's stock worth $34,000 after purchasing an additional 429 shares during the period. 69.93% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines Stock Up 0.3%

DAL opened at $73.31 on Friday. Delta Air Lines, Inc. has a one year low of $45.28 and a one year high of $76.39. 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 stock has a market capitalization of $48.16 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.08 and a beta of 1.25. The business's 50-day simple moving average is $66.34 and its 200-day simple moving average is $66.29.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.03. The firm had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.05 billion. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The business's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS. Analysts anticipate that Delta Air Lines, Inc. will post 5.3 EPS for the current year.

Delta Air Lines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, May 14th. Delta Air Lines's dividend payout ratio is presently 10.93%.

Insider Buying and Selling at Delta Air Lines

In related news, EVP John E. Laughter sold 69,304 shares of the stock in a transaction on Friday, April 10th. The shares were sold at an average price of $68.15, for a total transaction of $4,723,067.60. Following the completion of the sale, the executive vice president owned 69,369 shares in the company, valued at $4,727,497.35. This represents a 49.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alain Bellemare sold 35,212 shares of the firm's stock in a transaction on Monday, February 9th. The stock was sold at an average price of $75.20, for a total transaction of $2,647,942.40. Following the transaction, the executive vice president directly owned 138,176 shares in the company, valued at $10,390,835.20. The trade was a 20.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 278,737 shares of company stock valued at $19,868,268. 0.80% of the stock is currently owned by insiders.

Trending Headlines about Delta Air Lines

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

• Positive Sentiment: UBS raised its price target on Delta to $95, highlighting confidence in the airline’s premium-cabin strategy and potential for stronger earnings per share, which can boost investor sentiment. UBS Just Hiked Delta Air Lines Price Target to $95: Premium Cabin Strategy Targets $13 EPS
• Positive Sentiment: Delta has outperformed since its last earnings report, suggesting the market is still rewarding the company’s recent quarterly results and outlook. Why Is Delta (DAL) Up 7.8% Since Last Earnings Report?
• Positive Sentiment: Airfare pricing across the industry is rising sharply after Spirit’s liquidation, which could support Delta’s revenue per seat if demand remains firm. Airfares skyrocket as much as 218% on Spirit Airlines' busiest routes within just 48 hours of its May 2 liquidation

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. BNP Paribas Exane reduced their price target on shares of Delta Air Lines from $85.00 to $81.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 21st. BMO Capital Markets reaffirmed an "outperform" rating on shares of Delta Air Lines in a research note on Wednesday, January 14th. Citigroup increased their target price on shares of Delta Air Lines from $77.00 to $79.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Wells Fargo & Company decreased their price target on shares of Delta Air Lines from $87.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, March 16th. Finally, Susquehanna dropped their price target on shares of 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 given a Hold rating to the company. According to data from MarketBeat.com, Delta Air Lines has a consensus rating of "Moderate Buy" and an average price target of $79.47.

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.

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