Meridian Wealth Management LLC Purchases Shares of 33,372 Delta Air Lines, Inc. (NYSE:DAL)

Meridian Wealth Management LLC purchased a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 33,372 shares of the transportation company’s stock, valued at approximately $1,693,000.

Other institutional investors also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in Delta Air Lines in the 3rd quarter valued at $25,000. Kimelman & Baird LLC purchased a new stake in shares of Delta Air Lines during the 2nd quarter valued at $31,000. Ashton Thomas Securities LLC purchased a new stake in shares of Delta Air Lines during the 3rd quarter valued at $31,000. Strategic Financial Concepts LLC purchased a new stake in shares of Delta Air Lines during the 2nd quarter valued at $36,000. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Delta Air Lines during the 2nd quarter valued at $40,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Delta Air Lines

In related news, EVP Joanne D. Smith sold 3,431 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. This trade represents a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alain Bellemare sold 19,490 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the transaction, the executive vice president now owns 121,961 shares in the company, valued at $6,739,564.86. This represents a 13.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,240 shares of company stock worth $8,044,893. 0.96% of the stock is owned by company insiders.

Delta Air Lines Stock Performance

Shares of NYSE DAL opened at $63.34 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average price is $55.01 and its two-hundred day moving average price is $49.15. Delta Air Lines, Inc. has a 52-week low of $35.46 and a 52-week high of $66.25. The stock has a market capitalization of $40.87 billion, a P/E ratio of 8.80, a P/E/G ratio of 1.23 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The business had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.65 billion. During the same period in the prior year, the business earned $2.03 EPS. The business’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Delta Air Lines, Inc. will post 6.07 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid a $0.15 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 0.95%. Delta Air Lines’s payout ratio is currently 8.33%.

Analyst Ratings Changes

Several analysts have recently issued reports on DAL shares. Susquehanna boosted their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 9th. Bank of America upped their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Barclays upped their price target on shares of Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. upped their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $83.00 price objective on shares of Delta Air Lines in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $72.75.

Delta Air Lines Profile

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.