Alliancebernstein L.P. Sells 52,934 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Alliancebernstein L.P. lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,571,992 shares of the transportation company's stock after selling 52,934 shares during the period. Alliancebernstein L.P. owned approximately 0.24% of Delta Air Lines worth $95,106,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of DAL. WASHINGTON TRUST Co grew its position in shares of Delta Air Lines by 7.5% in the 4th quarter. WASHINGTON TRUST Co now owns 2,150 shares of the transportation company's stock valued at $130,000 after purchasing an additional 150 shares during the period. Hemington Wealth Management increased its holdings in Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company's stock worth $28,000 after purchasing an additional 154 shares in the last quarter. Mason & Associates Inc lifted its holdings in shares of Delta Air Lines by 3.2% in the fourth quarter. Mason & Associates Inc now owns 5,088 shares of the transportation company's stock valued at $308,000 after purchasing an additional 160 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in shares of Delta Air Lines by 1.2% during the fourth quarter. DAVENPORT & Co LLC now owns 14,298 shares of the transportation company's stock worth $865,000 after buying an additional 173 shares in the last quarter. Finally, Armstrong Advisory Group Inc. raised its holdings in shares of Delta Air Lines by 10.6% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,820 shares of the transportation company's stock valued at $110,000 after purchasing an additional 175 shares during the last quarter. 69.93% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In related news, CEO Edward H. Bastian sold 91,710 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the sale, the chief executive officer now directly owns 439,819 shares of the company's stock, valued at approximately $30,721,357.15. This represents a 17.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP William C. Carroll sold 6,783 shares of Delta Air Lines stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $65.94, for a total transaction of $447,271.02. Following the transaction, the senior vice president now directly owns 10,016 shares in the company, valued at $660,455.04. This represents a 40.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 162,886 shares of company stock worth $11,116,463 over the last three months. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DAL has been the topic of several analyst reports. Bank of America dropped their target price on Delta Air Lines from $65.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday. Susquehanna lowered their price target on Delta Air Lines from $80.00 to $50.00 and set a "positive" rating on the stock in a research report on Monday. Raymond James decreased their target price on Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Citigroup cut their target price on shares of Delta Air Lines from $80.00 to $72.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Finally, Dbs Bank cut shares of Delta Air Lines from a "strong-buy" rating to a "hold" rating in a report on Thursday. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Delta Air Lines presently has an average rating of "Moderate Buy" and an average price target of $67.20.

Delta Air Lines Trading Down 1.3 %

Shares of NYSE DAL traded down $0.48 during midday trading on Monday, reaching $36.77. The stock had a trading volume of 9,032,187 shares, compared to its average volume of 9,163,830. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37. The company's 50 day moving average price is $56.32 and its 200 day moving average price is $58.22. The firm has a market cap of $23.77 billion, a price-to-earnings ratio of 6.91, a price-to-earnings-growth ratio of 0.75 and a beta of 1.23.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.09. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The firm had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.20 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Thursday, February 27th. Delta Air Lines's dividend payout ratio is currently 11.26%.

Delta Air Lines Company 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.