State of Alaska Department of Revenue Has $2.30 Million Stake in Southwest Airlines Co. (NYSE:LUV)

State of Alaska Department of Revenue trimmed its position in Southwest Airlines Co. (NYSE:LUV) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and 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.

Other large investors have also modified their holdings of the company. Raleigh Capital Management Inc. raised its stake in shares of 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 stake in Southwest Airlines in the third quarter valued at $33,000. TD Private Client Wealth LLC grew its position 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 acquiring an additional 345 shares during the period. 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. Finally, New England Capital Financial Advisors LLC grew its position in Southwest Airlines by 35.3% in the third quarter. New England Capital Financial Advisors LLC now owns 1,923 shares of the airline’s stock valued at $57,000 after acquiring an additional 502 shares during the period. 80.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on LUV. The Goldman Sachs Group reiterated a “sell” rating and issued a $28.00 price target on shares of Southwest Airlines in a research report on Friday, November 15th. JPMorgan Chase & Co. upped their price target on Southwest Airlines from $20.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. StockNews.com upgraded Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. Citigroup restated a “sell” rating and set a $29.50 target price (down previously from $31.50) on shares of Southwest Airlines in a report on Thursday, January 16th. Finally, Susquehanna decreased their target price on Southwest Airlines from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.08.

Southwest Airlines Price Performance

Southwest Airlines stock opened at $30.13 on Tuesday. The business’s 50-day simple moving average is $32.83 and its 200 day simple moving average is $30.58. The stock has a market cap 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. Southwest Airlines Co. has a 12-month low of $23.58 and a 12-month high of $36.12. 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 (NYSE:LUV) last released its earnings results on Thursday, January 30th. The airline reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.11. Southwest Airlines had a return on equity of 5.77% and a net margin of 1.69%. As a group, research analysts anticipate that Southwest Airlines Co. will post 1.59 earnings per share for the current year.

Southwest Airlines Announces Dividend

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

Insider Buying and Selling at Southwest Airlines

In other Southwest Airlines news, insider Linda B. Rutherford sold 3,849 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $34.40, for a total value of $132,405.60. Following the transaction, the insider now owns 89,376 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. 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.