Prosperity Wealth Management Inc. Makes New $700,000 Investment in Delta Air Lines, Inc. (NYSE:DAL)

Prosperity Wealth Management Inc. acquired a new position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 16,052 shares of the transportation company's stock, valued at approximately $700,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Delta Air Lines by 414.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company's stock valued at $32,000 after buying an additional 431 shares during the period. Graney & King LLC acquired a new stake in shares of Delta Air Lines in the 4th quarter valued at approximately $34,000. Continuum Advisory LLC lifted its holdings in shares of Delta Air Lines by 44.2% in the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock valued at $35,000 after buying an additional 179 shares during the period. Crowley Wealth Management Inc. acquired a new position in Delta Air Lines during the fourth quarter worth $45,000. Finally, Millstone Evans Group LLC acquired a new position in Delta Air Lines during the fourth quarter worth $46,000. 69.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DAL. Wall Street Zen cut Delta Air Lines from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. TD Cowen lifted their price objective on Delta Air Lines from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, April 10th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Delta Air Lines in a report on Tuesday, May 13th. UBS Group set a $66.00 price objective on Delta Air Lines and gave the stock a "buy" rating in a report on Monday, May 19th. Finally, Barclays reduced their price objective on Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Delta Air Lines has an average rating of "Moderate Buy" and an average price target of $62.08.

Delta Air Lines Stock Performance

Delta Air Lines stock opened at $47.32 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.33 and a current ratio of 0.38. The stock has a fifty day moving average of $46.27 and a two-hundred day moving average of $54.19. The company has a market capitalization of $30.89 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 2.50 and a beta of 1.51. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.38). The company had revenue of $12.98 billion for the quarter, compared to analysts' expectations of $13.85 billion. Delta Air Lines had a return on equity of 28.18% and a net margin of 5.91%. The business's quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 EPS. On average, analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 13th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Tuesday, May 13th. Delta Air Lines's dividend payout ratio is currently 10.64%.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.

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