Icon Wealth Partners LLC Acquires Shares of 528 Las Vegas Sands Corp. (LVS)
Icon Wealth Partners LLC acquired a new position in Las Vegas Sands Corp. (NYSE:LVS) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 528 shares of the casino operator’s stock, valued at approximately $32,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Las Vegas Sands by 1.9% in the first quarter. BlackRock Inc. now owns 17,852,221 shares of the casino operator’s stock valued at $1,088,272,000 after acquiring an additional 334,937 shares in the last quarter. American International Group Inc. bought a new stake in Las Vegas Sands during the fourth quarter worth approximately $359,921,000. Bank of New York Mellon Corp increased its stake in Las Vegas Sands by 21.6% during 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 increased its stake in Las Vegas Sands by 0.7% during 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 bought a new stake in Las Vegas Sands during the fourth quarter worth approximately $229,684,000. 36.40% of the stock is owned by institutional investors.
Several equities research analysts have weighed in on LVS shares. Zacks Investment Research raised Las Vegas Sands from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Wednesday, May 8th. Stifel Nicolaus boosted their price objective on Las Vegas Sands from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Jefferies Financial Group boosted their price objective on Las Vegas Sands from $57.00 to $69.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Deutsche Bank boosted their price objective on Las Vegas Sands from $60.00 to $69.00 and gave the stock a “hold” rating in a research note on Thursday, April 18th. They noted that the move was a valuation call. Finally, HSBC cut Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $68.32.
Las Vegas Sands (NYSE:LVS) last released its earnings results on Wednesday, April 17th. The casino operator reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Las Vegas Sands had a return on equity of 34.52% and a net margin of 11.15%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 earnings per share. As a group, equities research analysts predict that Las Vegas Sands Corp. will post 3.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 19th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.60%. Las Vegas Sands’s dividend payout ratio is 92.77%.
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Las Vegas Sands Profile
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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