Bank of New York Mellon Corp Has $479.61 Million Stock Position in Las Vegas Sands Corp. (NYSE:LVS)

Bank of New York Mellon Corp increased its position in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 6.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 12,415,492 shares of the casino operator's stock after purchasing an additional 752,944 shares during the period. Bank of New York Mellon Corp owned about 1.76% of Las Vegas Sands worth $479,610,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Optiver Holding B.V. acquired a new stake in shares of Las Vegas Sands during the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. acquired a new position in Las Vegas Sands during the 4th quarter valued at $36,000. Center for Financial Planning Inc. acquired a new stake in Las Vegas Sands during the first quarter worth about $42,000. Smartleaf Asset Management LLC increased its position in shares of Las Vegas Sands by 63.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the casino operator's stock valued at $45,000 after purchasing an additional 342 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Las Vegas Sands during the 4th quarter valued at about $56,000. 39.16% of the stock is owned by institutional investors and hedge funds.

Las Vegas Sands Price Performance

NYSE:LVS traded up $0.14 on Monday, hitting $48.36. The company had a trading volume of 5,285,191 shares, compared to its average volume of 5,878,610. The firm has a 50 day moving average of $41.46 and a two-hundred day moving average of $42.19. The stock has a market capitalization of $34.17 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.70 and a beta of 1.03. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 3.58. Las Vegas Sands Corp. has a 52 week low of $30.18 and a 52 week high of $56.61.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The casino operator reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). Las Vegas Sands had a net margin of 11.64% and a return on equity of 44.91%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the company earned $0.78 EPS. The business's quarterly revenue was down 3.3% compared to the same quarter last year. On average, research analysts anticipate that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.

Las Vegas Sands declared that its board has initiated a stock repurchase plan on Wednesday, April 23rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the casino operator to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Las Vegas Sands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. Las Vegas Sands's dividend payout ratio (DPR) is 55.56%.

Wall Street Analysts Forecast Growth

LVS has been the topic of a number of recent research reports. Barclays decreased their price objective on Las Vegas Sands from $58.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group started coverage on Las Vegas Sands in a research report on Monday. They issued a "neutral" rating and a $52.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Las Vegas Sands in a research note on Monday, June 23rd. They issued a "neutral" rating and a $47.00 target price on the stock. Hsbc Global Res upgraded shares of Las Vegas Sands to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Stifel Nicolaus set a $57.00 price target on shares of Las Vegas Sands and gave the company a "buy" rating in a research report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Las Vegas Sands currently has a consensus rating of "Moderate Buy" and an average target price of $55.31.

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.