AdvisorNet Financial Inc trimmed its holdings in shares of Southwest Airlines Co. (NYSE:LUV – Free Report) by 26.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 912 shares of the airline’s stock after selling 335 shares during the period. AdvisorNet Financial Inc’s holdings in Southwest Airlines were worth $30,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Southwest Airlines by 2.0% during the first quarter. Vanguard Group Inc. now owns 63,028,745 shares of the airline’s stock valued at $2,886,717,000 after purchasing an additional 1,213,767 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Southwest Airlines by 7.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 18,213,320 shares of the airline’s stock valued at $613,243,000 after purchasing an additional 1,269,782 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Southwest Airlines by 91,675.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,296,139 shares of the airline’s stock valued at $515,021,000 after purchasing an additional 15,279,472 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Southwest Airlines by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 11,892,153 shares of the airline’s stock valued at $399,914,000 after purchasing an additional 285,836 shares during the last quarter. Finally, U S Global Investors Inc. lifted its holdings in shares of Southwest Airlines by 7.0% during the first quarter. U S Global Investors Inc. now owns 6,466,356 shares of the airline’s stock valued at $210,415,000 after purchasing an additional 421,586 shares during the last quarter. 75.81% of the stock is currently owned by hedge funds and other institutional investors.
Southwest Airlines Trading Up 0.5 %
Shares of LUV stock opened at $37.25 on Friday. Southwest Airlines Co. has a 1 year low of $28.40 and a 1 year high of $41.26. The firm has a fifty day moving average price of $33.37 and a 200-day moving average price of $33.21. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.26 and a quick ratio of 1.19. The company has a market cap of $22.17 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 0.43 and a beta of 1.19.
Southwest Airlines (NYSE:LUV – Get Free Report) last issued its quarterly earnings data on Thursday, April 27th. The airline reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.06). Southwest Airlines had a net margin of 2.65% and a return on equity of 6.99%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the firm earned ($0.32) EPS. The company’s revenue was up 21.4% on a year-over-year basis. As a group, equities analysts predict that Southwest Airlines Co. will post 2.68 earnings per share for the current year.
Southwest Airlines Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Wednesday, June 21st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, June 20th. Southwest Airlines’s payout ratio is 72.00%.
Insider Activity
In related news, EVP Ryan C. Green sold 4,936 shares of Southwest Airlines stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $29.94, for a total transaction of $147,783.84. Following the transaction, the executive vice president now owns 26,361 shares in the company, valued at approximately $789,248.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.32% of the company’s stock.
Wall Street Analyst Weigh In
LUV has been the subject of several recent research reports. StockNews.com initiated coverage on shares of Southwest Airlines in a report on Thursday, May 18th. They set a “hold” rating for the company. Bank of America boosted their price objective on shares of Southwest Airlines from $39.00 to $45.00 in a report on Monday, June 26th. Barclays boosted their price objective on shares of Southwest Airlines from $38.00 to $40.00 in a report on Thursday, July 13th. Jefferies Financial Group boosted their price objective on shares of Southwest Airlines from $32.00 to $40.00 in a report on Tuesday, July 11th. Finally, 22nd Century Group restated a “maintains” rating on shares of Southwest Airlines in a report on Monday, June 26th. Nine equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.53.
About Southwest Airlines
Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2022, the company operated a total fleet of 770 Boeing 737 aircrafts; 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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