Diversify Advisory Services LLC lowered its holdings in Southwest Airlines Co. (NYSE:LUV – Free Report) by 16.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,221 shares of the airline’s stock after selling 1,435 shares during the period. Diversify Advisory Services LLC’s holdings in Southwest Airlines were worth $239,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Southwest Airlines in the 3rd quarter valued at approximately $33,000. TD Private Client Wealth LLC boosted its stake in Southwest Airlines by 41.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock valued at $35,000 after buying an additional 345 shares in the last quarter. CVA Family Office LLC grew its position in Southwest Airlines by 60.6% in the third quarter. CVA Family Office LLC now owns 1,661 shares of the airline’s stock valued at $49,000 after acquiring an additional 627 shares during the period. New England Capital Financial Advisors LLC raised its stake in Southwest Airlines by 35.3% during the third quarter. New England Capital Financial Advisors LLC now owns 1,923 shares of the airline’s stock worth $57,000 after acquiring an additional 502 shares in the last quarter. Finally, City State Bank lifted its holdings in shares of Southwest Airlines by 55.8% during the third quarter. City State Bank now owns 1,955 shares of the airline’s stock valued at $58,000 after acquiring an additional 700 shares during the period. Institutional investors and hedge funds own 80.82% of the company’s stock.
Southwest Airlines Price Performance
LUV opened at $32.11 on Friday. The company has a fifty day moving average price of $33.03 and a two-hundred day moving average price of $30.23. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.83 and a current ratio of 0.88. The firm has a market capitalization of $19.26 billion, a PE ratio of -458.77, a P/E/G ratio of 3.45 and a beta of 1.14. Southwest Airlines Co. has a 52 week low of $23.58 and a 52 week high of $36.12.
Southwest Airlines Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, December 26th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $0.72 annualized dividend and a yield of 2.24%. Southwest Airlines’s dividend payout ratio is presently -1,028.57%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on LUV shares. StockNews.com upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. UBS Group raised their price objective on shares of Southwest Airlines from $27.00 to $29.00 and gave the stock a “sell” rating in a report on Tuesday, January 7th. Raymond James boosted their target price on Southwest Airlines from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. TD Cowen raised their price target on Southwest Airlines from $25.00 to $28.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group raised Southwest Airlines from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $24.00 to $32.00 in a research note on Wednesday, October 9th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.31.
Read Our Latest Stock Report on Southwest Airlines
Insider Buying and Selling at Southwest Airlines
In other news, insider Linda B. Rutherford sold 3,849 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $34.40, for a total value of $132,405.60. Following the completion of the transaction, the insider now owns 89,376 shares in the company, valued at $3,074,534.40. This represents a 4.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Elliott Investment Management sold 1,203,920 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $29.83, for a total transaction of $35,912,933.60. Following the sale, the insider now directly owns 59,912,580 shares of the company’s stock, valued at $1,787,192,261.40. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.
Southwest Airlines Profile
Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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