Las Vegas Sands Corp. $LVS Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 22.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,668,763 shares of the casino operator’s stock after selling 2,746,729 shares during the period. Bank of New York Mellon Corp’s holdings in Las Vegas Sands were worth $420,688,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Carrhae Capital LLP acquired a new position in shares of Las Vegas Sands during the second quarter valued at $41,849,000. Palogic Value Management L.P. acquired a new position in shares of Las Vegas Sands during the second quarter valued at $218,000. Center for Financial Planning Inc. increased its holdings in shares of Las Vegas Sands by 31.3% during the second quarter. Center for Financial Planning Inc. now owns 1,440 shares of the casino operator’s stock valued at $63,000 after purchasing an additional 343 shares during the period. AdvisorShares Investments LLC increased its holdings in shares of Las Vegas Sands by 18.2% during the second quarter. AdvisorShares Investments LLC now owns 11,047 shares of the casino operator’s stock valued at $481,000 after purchasing an additional 1,704 shares during the period. Finally, Assetmark Inc. grew its holdings in Las Vegas Sands by 14.2% during the second quarter. Assetmark Inc. now owns 175,071 shares of the casino operator’s stock worth $7,617,000 after acquiring an additional 21,831 shares during the period. 39.16% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Robert G. Goldstein sold 700,000 shares of Las Vegas Sands stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $58.88, for a total value of $41,216,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 1,200,000 shares of company stock valued at $70,822,000. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

LVS has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Las Vegas Sands from $59.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. The Goldman Sachs Group lifted their target price on Las Vegas Sands from $57.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Macquarie lifted their target price on Las Vegas Sands from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Barclays lifted their target price on Las Vegas Sands from $59.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, Argus lifted their target price on Las Vegas Sands from $60.00 to $65.00 in a report on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $64.13.

Las Vegas Sands Trading Up 4.0%

Shares of LVS opened at $61.72 on Tuesday. The business’s 50-day moving average price is $53.99 and its 200 day moving average price is $48.17. The stock has a market capitalization of $41.73 billion, a P/E ratio of 27.93, a P/E/G ratio of 1.62 and a beta of 1.01. Las Vegas Sands Corp. has a 1-year low of $30.18 and a 1-year high of $61.79. The company has a current ratio of 0.89, a quick ratio of 1.21 and a debt-to-equity ratio of 7.42.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings results on Wednesday, October 22nd. The casino operator reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.16. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Las Vegas Sands had a return on equity of 73.14% and a net margin of 12.69%.Las Vegas Sands’s revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Analysts expect that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Tuesday, November 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. Las Vegas Sands’s dividend payout ratio (DPR) is currently 45.25%.

About Las Vegas Sands

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.