Golden State Wealth Management LLC Invests $64,000 in Southwest Airlines Co. (NYSE:LUV)

Golden State Wealth Management LLC purchased a new stake in shares of Southwest Airlines Co. (NYSE:LUV) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,909 shares of the airline’s stock, valued at approximately $64,000.

Several other institutional investors also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Southwest Airlines by 4.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 33,690 shares of the airline’s stock valued at $1,133,000 after acquiring an additional 1,317 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Southwest Airlines during the 4th quarter valued at $609,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Southwest Airlines by 50.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,644 shares of the airline’s stock worth $1,960,000 after purchasing an additional 19,456 shares in the last quarter. Alexander Labrunerie & CO. Inc. purchased a new position in shares of Southwest Airlines in the fourth quarter worth $208,000. Finally, Caas Capital Management LP bought a new position in shares of Southwest Airlines during the fourth quarter valued at $1,009,000. 80.82% of the stock is owned by hedge funds and other institutional investors.

Southwest Airlines Trading Down 2.8 %

Southwest Airlines stock opened at $30.13 on Tuesday. Southwest Airlines Co. has a 12-month low of $23.58 and a 12-month high of $36.12. The firm 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 firm has a 50 day moving average of $32.83 and a 200 day moving average of $30.58. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49.

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, topping analysts’ consensus estimates 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, 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 given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.72 annualized dividend and a dividend yield of 2.39%. Southwest Airlines’s payout ratio is 100.00%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LUV. Citigroup reiterated a “sell” rating and issued a $29.50 price objective (down from $31.50) on shares of Southwest Airlines in a report on Thursday, January 16th. UBS Group boosted their price objective on shares of Southwest Airlines from $27.00 to $29.00 and gave the company a “sell” rating in a report on Tuesday, January 7th. Susquehanna dropped their target price on shares of Southwest Airlines from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. TD Cowen lifted their target price on shares of Southwest Airlines from $25.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Bank of America reissued an “underperform” rating and set a $31.00 price target (down from $33.00) on shares of Southwest Airlines in a report on Friday, January 17th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.08.

Insider Transactions at Southwest Airlines

In other news, insider Linda B. Rutherford sold 3,849 shares of the business’s 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 transaction, the insider now owns 89,376 shares of the company’s stock, valued at approximately $3,074,534.40. The trade was a 4.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.