Swiss National Bank Lowers Stake in Las Vegas Sands Corp. (LVS)
Swiss National Bank lowered its stake in Las Vegas Sands Corp. (NYSE:LVS) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,211,439 shares of the casino operator’s stock after selling 13,800 shares during the period. Swiss National Bank owned approximately 0.15% of Las Vegas Sands Corp. worth $69,706,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC increased its position in Las Vegas Sands Corp. by 9.5% in the third quarter. Advisory Services Network LLC now owns 2,366 shares of the casino operator’s stock worth $136,000 after buying an additional 205 shares during the last quarter. Pinkerton Retirement Specialists LLC acquired a new position in Las Vegas Sands Corp. during the second quarter worth about $119,000. Seven Bridges Advisors LLC increased its position in Las Vegas Sands Corp. by 45.8% in the second quarter. Seven Bridges Advisors LLC now owns 2,728 shares of the casino operator’s stock worth $119,000 after buying an additional 857 shares during the last quarter. First Mercantile Trust Co. increased its position in Las Vegas Sands Corp. by 42.8% in the third quarter. First Mercantile Trust Co. now owns 2,886 shares of the casino operator’s stock worth $166,000 after buying an additional 865 shares during the last quarter. Finally, Assetmark Inc. increased its position in Las Vegas Sands Corp. by 10.6% in the second quarter. Assetmark Inc. now owns 3,069 shares of the casino operator’s stock worth $133,000 after buying an additional 293 shares during the last quarter. Institutional investors and hedge funds own 39.82% of the company’s stock.
Shares of Las Vegas Sands Corp. (NYSE:LVS) opened at 62.15 on Wednesday. Las Vegas Sands Corp. has a one year low of $34.88 and a one year high of $63.38. The firm’s 50-day moving average price is $58.88 and its 200 day moving average price is $52.19. The firm has a market cap of $49.39 billion, a P/E ratio of 30.35 and a beta of 1.98.
Las Vegas Sands Corp. (NYSE:LVS) last issued its quarterly earnings results on Thursday, November 3rd. The casino operator reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.12. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.80 billion. Las Vegas Sands Corp. had a return on equity of 23.24% and a net margin of 14.53%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share. Analysts predict that Las Vegas Sands Corp. will post $2.35 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, December 21st will be issued a dividend of $0.72 per share. The ex-dividend date is Monday, December 19th. This represents a $2.88 annualized dividend and a dividend yield of 4.63%. Las Vegas Sands Corp.’s dividend payout ratio is 140.49%.
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A number of research analysts have issued reports on LVS shares. Vetr upgraded shares of Las Vegas Sands Corp. from a “buy” rating to a “strong-buy” rating and set a $63.40 target price on the stock in a research report on Monday, September 26th. Stifel Nicolaus upped their price target on Las Vegas Sands Corp. from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, November 4th. TheStreet raised Las Vegas Sands Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, September 1st. Goldman Sachs Group Inc. reaffirmed a “neutral” rating on shares of Las Vegas Sands Corp. in a research note on Wednesday, October 5th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $63.00 price target on shares of Las Vegas Sands Corp. in a research note on Thursday, September 8th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $57.33.
In other news, COO Robert G. Goldstein sold 169,111 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $62.84, for a total transaction of $10,626,935.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.10% of the company’s stock.
About Las Vegas Sands Corp.
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that offers accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.
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