LPL Financial LLC lifted its holdings in Las Vegas Sands Corp. (NYSE:LVS – Free Report) by 17.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 134,315 shares of the casino operator’s stock after purchasing an additional 19,740 shares during the quarter. LPL Financial LLC’s holdings in Las Vegas Sands were worth $7,790,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Las Vegas Sands by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 35,537,902 shares of the casino operator’s stock valued at $1,381,358,000 after purchasing an additional 519,620 shares during the period. BlackRock Inc. boosted its position in Las Vegas Sands by 1.4% during the 1st quarter. BlackRock Inc. now owns 23,298,767 shares of the casino operator’s stock worth $1,338,514,000 after acquiring an additional 330,221 shares during the last quarter. State Street Corp boosted its position in Las Vegas Sands by 2.9% during the 1st quarter. State Street Corp now owns 13,898,679 shares of the casino operator’s stock worth $540,242,000 after acquiring an additional 394,616 shares during the last quarter. Fisher Asset Management LLC boosted its position in Las Vegas Sands by 5,139.8% during the 1st quarter. Fisher Asset Management LLC now owns 9,242,005 shares of the casino operator’s stock worth $530,953,000 after acquiring an additional 9,065,624 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Las Vegas Sands by 8.6% during the 1st quarter. Bank of New York Mellon Corp now owns 8,391,096 shares of the casino operator’s stock worth $482,068,000 after acquiring an additional 666,588 shares during the last quarter. 39.16% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have weighed in on LVS. JPMorgan Chase & Co. reduced their price target on Las Vegas Sands from $71.00 to $64.00 in a research report on Tuesday, September 26th. Stifel Nicolaus upped their price target on Las Vegas Sands from $69.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Wells Fargo & Company dropped their price objective on Las Vegas Sands from $71.00 to $69.00 and set an “overweight” rating on the stock in a research note on Thursday, July 20th. Argus dropped their price objective on Las Vegas Sands from $72.00 to $68.00 in a research note on Friday, July 21st. Finally, StockNews.com started coverage on Las Vegas Sands in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Las Vegas Sands currently has an average rating of “Moderate Buy” and a consensus price target of $69.12.
Las Vegas Sands Stock Performance
Shares of NYSE LVS opened at $47.46 on Wednesday. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.50 and a quick ratio of 1.50. The stock’s fifty day moving average price is $48.25 and its two-hundred day moving average price is $54.92. Las Vegas Sands Corp. has a one year low of $36.79 and a one year high of $65.58. The firm has a market cap of $36.28 billion, a price-to-earnings ratio of 53.93, a P/E/G ratio of 3.51 and a beta of 1.22.
Las Vegas Sands (NYSE:LVS – Get Free Report) last released its earnings results on Wednesday, October 18th. The casino operator reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.72 billion. Las Vegas Sands had a return on equity of 21.05% and a net margin of 7.81%. Las Vegas Sands’s quarterly revenue was up 178.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.27) EPS. On average, equities analysts forecast that Las Vegas Sands Corp. will post 1.91 EPS for the current year.
Las Vegas Sands Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, November 6th. Las Vegas Sands’s dividend payout ratio (DPR) is currently 90.91%.
Las Vegas Sands announced that its board has initiated a stock repurchase program on Wednesday, October 18th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the casino operator to repurchase up to 5.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
Las Vegas Sands Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore.
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