First Allied Advisory Services Inc. Cuts Holdings in Southwest Airlines Company (LUV)
First Allied Advisory Services Inc. lowered its position in shares of Southwest Airlines Company (NYSE:LUV) by 30.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,199 shares of the airline’s stock after selling 10,925 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Southwest Airlines were worth $1,415,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Boston Partners raised its position in shares of Southwest Airlines by 101.7% during the 3rd quarter. Boston Partners now owns 4,980,739 shares of the airline’s stock worth $278,822,000 after purchasing an additional 2,511,258 shares during the period. Thrivent Financial For Lutherans raised its position in shares of Southwest Airlines by 35.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock worth $257,901,000 after purchasing an additional 1,090,189 shares during the period. Ameriprise Financial Inc. raised its position in shares of Southwest Airlines by 13.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock worth $549,016,000 after purchasing an additional 1,026,892 shares during the period. Wells Fargo & Company MN raised its position in shares of Southwest Airlines by 65.4% during the 2nd quarter. Wells Fargo & Company MN now owns 2,555,887 shares of the airline’s stock worth $158,823,000 after purchasing an additional 1,010,966 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Southwest Airlines by 104.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,754,760 shares of the airline’s stock worth $98,219,000 after purchasing an additional 895,770 shares during the period. Hedge funds and other institutional investors own 78.87% of the company’s stock.
A number of brokerages have recently weighed in on LUV. Vetr cut Southwest Airlines from a “sell” rating to a “strong sell” rating and set a $54.06 price target on the stock. in a research report on Tuesday, December 5th. Morgan Stanley set a $64.00 target price on Southwest Airlines and gave the company a “buy” rating in a research report on Thursday, August 17th. Cowen restated an “outperform” rating and issued a $64.00 target price (up from $62.00) on shares of Southwest Airlines in a research report on Friday, October 27th. Deutsche Bank restated a “buy” rating and issued a $71.00 target price on shares of Southwest Airlines in a research report on Friday, October 27th. Finally, Macquarie began coverage on Southwest Airlines in a research report on Monday, September 25th. They issued an “outperform” rating and a $62.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $66.89.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The firm had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.29 billion. Southwest Airlines had a return on equity of 24.85% and a net margin of 10.12%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. equities research analysts predict that Southwest Airlines Company will post 3.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 7th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Wednesday, December 6th. Southwest Airlines’s dividend payout ratio is presently 14.37%.
In other news, Director John T. Montford sold 935 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $53.94, for a total transaction of $50,433.90. Following the completion of the sale, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $1,348,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.
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About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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