Stonebridge Capital Advisors LLC lifted its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 10.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,610 shares of the casino operator’s stock after buying an additional 1,735 shares during the quarter. Stonebridge Capital Advisors LLC’s holdings in Las Vegas Sands were worth $1,134,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its holdings in Las Vegas Sands by 1.9% in the 1st quarter. BlackRock Inc. now owns 17,852,221 shares of the casino operator’s stock worth $1,088,272,000 after purchasing an additional 334,937 shares in the last quarter. American International Group Inc. acquired a new position in shares of Las Vegas Sands in the fourth quarter worth $359,921,000. Bank of New York Mellon Corp raised its holdings in shares of Las Vegas Sands by 21.6% in the fourth quarter. Bank of New York Mellon Corp now owns 5,405,796 shares of the casino operator’s stock worth $281,371,000 after acquiring an additional 959,544 shares during the last quarter. Boston Partners raised its holdings in shares of Las Vegas Sands by 0.7% in the first quarter. Boston Partners now owns 5,204,367 shares of the casino operator’s stock worth $317,258,000 after acquiring an additional 34,348 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Las Vegas Sands in the fourth quarter worth $229,684,000. 36.44% of the stock is owned by institutional investors and hedge funds.
LVS has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price target on Las Vegas Sands from $62.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. Credit Suisse Group reiterated a “neutral” rating and set a $58.00 price target on shares of Las Vegas Sands in a research report on Wednesday, March 20th. Zacks Investment Research upgraded Las Vegas Sands from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Jefferies Financial Group increased their price target on Las Vegas Sands from $57.00 to $69.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Deutsche Bank increased their price target on Las Vegas Sands from $60.00 to $69.00 and gave the stock a “hold” rating in a research report on Thursday, April 18th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $68.46.
Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, April 17th. The casino operator reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Las Vegas Sands had a net margin of 11.15% and a return on equity of 34.52%. The business had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. Sell-side analysts predict that Las Vegas Sands Corp. will post 3.59 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 19th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.40%. The ex-dividend date of this dividend is Tuesday, June 18th. Las Vegas Sands’s dividend payout ratio is 92.77%.
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About Las Vegas Sands
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, 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 iconic Marina Bay Sands in Singapore.
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