Independent Advisor Alliance Cuts Stock Holdings in Southwest Airlines Co. (NYSE:LUV)

Independent Advisor Alliance lessened its holdings in Southwest Airlines Co. (NYSE:LUVFree Report) by 14.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,490 shares of the airline’s stock after selling 6,499 shares during the quarter. Independent Advisor Alliance’s holdings in Southwest Airlines were worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. New Mexico Educational Retirement Board increased its holdings in Southwest Airlines by 7.3% in the third quarter. New Mexico Educational Retirement Board now owns 31,004 shares of the airline’s stock valued at $839,000 after buying an additional 2,100 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Southwest Airlines by 9.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 22,017 shares of the airline’s stock worth $596,000 after buying an additional 1,919 shares in the last quarter. Empirical Finance LLC grew its stake in Southwest Airlines by 12.1% in the 3rd quarter. Empirical Finance LLC now owns 20,430 shares of the airline’s stock valued at $553,000 after acquiring an additional 2,201 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Southwest Airlines during the 3rd quarter valued at about $74,000. Finally, California Public Employees Retirement System lifted its stake in Southwest Airlines by 2.1% in the 3rd quarter. California Public Employees Retirement System now owns 1,146,949 shares of the airline’s stock valued at $31,048,000 after buying an additional 23,962 shares in the last quarter. 80.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on LUV. Susquehanna decreased their target price on shares of Southwest Airlines from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. StockNews.com downgraded shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Friday, April 12th. Argus raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Tuesday, March 12th. HSBC began coverage on shares of Southwest Airlines in a research report on Monday, May 13th. They set a “hold” rating and a $27.80 price target for the company. Finally, Barclays cut their price objective on Southwest Airlines from $30.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Southwest Airlines presently has a consensus rating of “Hold” and a consensus target price of $30.10.

View Our Latest Stock Analysis on Southwest Airlines

Southwest Airlines Stock Performance

LUV stock opened at $27.86 on Monday. The stock’s fifty day moving average is $28.21 and its two-hundred day moving average is $28.89. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 44.22, a PEG ratio of 1.50 and a beta of 1.16. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.09. Southwest Airlines Co. has a 1 year low of $21.91 and a 1 year high of $39.53.

Southwest Airlines (NYSE:LUVGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The airline reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The firm had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.42 billion. Southwest Airlines had a net margin of 1.59% and a return on equity of 8.91%. Southwest Airlines’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.27) EPS. On average, research analysts predict that Southwest Airlines Co. will post 1.05 EPS for the current year.

Southwest Airlines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 19th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Tuesday, June 18th. Southwest Airlines’s dividend payout ratio (DPR) is 114.29%.

About Southwest Airlines

(Free Report)

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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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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