Atria Wealth Solutions Inc. Sells 11,683 Shares of Southwest Airlines Co. (NYSE:LUV)

Atria Wealth Solutions Inc. lowered its stake in Southwest Airlines Co. (NYSE:LUV) by 53.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,340 shares of the airline’s stock after selling 11,683 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Southwest Airlines were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Raleigh Capital Management Inc. raised its stake in Southwest Airlines by 186.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock valued at $30,000 after purchasing an additional 575 shares during the period. Ashton Thomas Securities LLC bought a new stake in Southwest Airlines during the 3rd quarter valued at approximately $33,000. TD Private Client Wealth LLC raised its stake in Southwest Airlines by 41.1% during the 3rd 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 during the period. New England Capital Financial Advisors LLC raised its stake in 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 valued at $57,000 after purchasing an additional 502 shares during the period. Finally, JFS Wealth Advisors LLC raised its stake in Southwest Airlines by 120.9% during the 3rd quarter. JFS Wealth Advisors LLC now owns 2,001 shares of the airline’s stock valued at $59,000 after purchasing an additional 1,095 shares during the period. Institutional investors own 80.82% of the company’s stock.

Southwest Airlines Price Performance

LUV opened at $31.07 on Friday. The business has a fifty day moving average of $31.89 and a 200 day moving average of $30.98. The stock has a market cap of $18.41 billion, a P/E ratio of 43.15, a PEG ratio of 0.97 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. Southwest Airlines Co. has a 52-week low of $23.58 and a 52-week high of $36.12.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, January 30th. The airline reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. Southwest Airlines had a net margin of 1.69% and a return on equity of 5.77%. As a group, sell-side analysts anticipate that Southwest Airlines Co. will post 1.55 EPS for the current year.

Southwest Airlines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Wednesday, March 12th. Southwest Airlines’s dividend payout ratio is presently 100.00%.

Insider Buying and Selling

In other Southwest Airlines news, insider Linda B. Rutherford sold 3,849 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $34.40, for a total transaction of $132,405.60. Following the transaction, the insider now directly owns 89,376 shares in the company, valued at $3,074,534.40. This represents a 4.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LUV shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Southwest Airlines in a research note on Wednesday, December 11th. Raymond James lifted their price objective on Southwest Airlines from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 30th. TD Cowen lifted their price objective on Southwest Airlines from $25.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Citigroup reaffirmed a “sell” rating and issued a $29.50 price objective (down previously from $31.50) on shares of Southwest Airlines in a research note on Thursday, January 16th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $31.00 price objective (down previously from $33.00) on shares of Southwest Airlines in a research note on Friday, January 17th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Southwest Airlines currently has a consensus rating of “Hold” and an average price target of $31.78.

About Southwest Airlines

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.