State of Alaska Department of Revenue Sells 1,085 Shares of Southwest Airlines Co. (NYSE:LUV)

State of Alaska Department of Revenue trimmed its stake in Southwest Airlines Co. (NYSE:LUV) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,378 shares of the airline’s stock after selling 1,085 shares during the quarter. State of Alaska Department of Revenue’s holdings in Southwest Airlines were worth $2,298,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of LUV. Raleigh Capital Management Inc. grew its stake in Southwest Airlines by 186.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock valued at $30,000 after purchasing an additional 575 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Southwest Airlines in the third quarter valued at approximately $33,000. TD Private Client Wealth LLC grew its stake in Southwest Airlines by 41.1% in the third quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock valued at $35,000 after purchasing an additional 345 shares in the last quarter. CVA Family Office LLC grew its stake 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 purchasing an additional 627 shares in the last quarter. Finally, New England Capital Financial Advisors LLC boosted its stake in shares of Southwest Airlines by 35.3% during the 3rd 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 during the period. 80.82% of the stock is currently owned by institutional investors.

Southwest Airlines Stock Down 2.8 %

Shares of NYSE:LUV opened at $30.13 on Tuesday. The company has a market capitalization of $18.07 billion, a price-to-earnings ratio of 41.84, a P/E/G ratio of 0.97 and a beta of 1.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.85. The business’s 50-day moving average is $32.83 and its 200-day moving average is $30.58. Southwest Airlines Co. has a 1 year low of $23.58 and a 1 year high of $36.12.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, January 30th. The airline reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. Southwest Airlines had a return on equity of 5.77% and a net margin of 1.69%. Equities research analysts predict that Southwest Airlines Co. will post 1.59 earnings per share for the current year.

Southwest Airlines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, March 12th. Southwest Airlines’s dividend payout ratio is 100.00%.

Insider Activity

In related news, insider Linda B. Rutherford sold 3,849 shares of Southwest Airlines stock in a transaction 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 sale, the insider now owns 89,376 shares of the company’s stock, valued at approximately $3,074,534.40. This trade represents a 4.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LUV has been the subject of several research analyst reports. Susquehanna reduced their target price on Southwest Airlines from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. StockNews.com raised Southwest Airlines from a “sell” rating to a “hold” rating in a report on Monday, October 28th. UBS Group lifted their price objective on Southwest Airlines from $27.00 to $29.00 and gave the company a “sell” rating in a report on Tuesday, January 7th. Raymond James boosted their price target on Southwest Airlines from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. Finally, Bank of America restated an “underperform” rating and set a $31.00 price objective (down previously from $33.00) on shares of Southwest Airlines in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.08.

Southwest Airlines Company 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.