Las Vegas Sands Corp. $LVS Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden cut its stake in Las Vegas Sands by 13.5% in the fourth quarter, selling 31,900 shares and leaving it with 203,900 shares worth about $13.27 million.
• Las Vegas Sands reported strong quarterly results, with EPS of $0.91 beating estimates of $0.76 and revenue of $3.59 billion topping expectations. Revenue also rose 25.3% year over year.
• The company paid a quarterly dividend of $0.30 per share, or $1.20 annualized, for a yield of 2.4%, while analysts currently rate the stock a Moderate Buy with an average price target of $68.28.

Forsta AP Fonden trimmed its position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,900 shares of the casino operator's stock after selling 31,900 shares during the period. Forsta AP Fonden's holdings in Las Vegas Sands were worth $13,272,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in LVS. Grove Bank & Trust acquired a new stake in shares of Las Vegas Sands in the fourth quarter valued at $26,000. International Assets Investment Management LLC acquired a new stake in shares of Las Vegas Sands in the fourth quarter valued at $26,000. Westside Investment Management Inc. raised its stake in shares of Las Vegas Sands by 48.0% in the third quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator's stock valued at $28,000 after acquiring an additional 166 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Las Vegas Sands by 549.5% in the third quarter. Smartleaf Asset Management LLC now owns 630 shares of the casino operator's stock valued at $35,000 after acquiring an additional 533 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Las Vegas Sands by 182.4% in the third quarter. IFP Advisors Inc now owns 672 shares of the casino operator's stock valued at $36,000 after acquiring an additional 434 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors and hedge funds.

Las Vegas Sands Stock Performance

Shares of LVS stock opened at $50.46 on Monday. The stock's 50-day moving average is $53.14 and its two-hundred day moving average is $58.34. The firm has a market cap of $33.44 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.15 and a beta of 0.81. Las Vegas Sands Corp. has a 1 year low of $40.03 and a 1 year high of $70.45. The company has a debt-to-equity ratio of 8.64, a quick ratio of 0.91 and a current ratio of 0.92.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The casino operator reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.15. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter last year, the company posted $0.59 earnings per share. The business's revenue was up 25.3% on a year-over-year basis. Analysts predict that Las Vegas Sands Corp. will post 3.38 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Tuesday, May 5th were given a $0.30 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 2.4%. Las Vegas Sands's dividend payout ratio (DPR) is presently 44.44%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Las Vegas Sands from $68.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 16th. Morgan Stanley increased their target price on Las Vegas Sands from $67.00 to $69.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. dropped their target price on Las Vegas Sands from $71.00 to $68.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on Las Vegas Sands from $77.00 to $73.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Finally, HSBC increased their target price on Las Vegas Sands from $73.00 to $78.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $68.28.

Insider Buying and Selling

In related news, CEO Patrick Dumont sold 60,165 shares of the firm's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $54.75, for a total value of $3,294,033.75. Following the completion of the sale, the chief executive officer owned 511,942 shares in the company, valued at $28,028,824.50. This trade represents a 10.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is currently owned by insiders.

About Las Vegas Sands

Las Vegas Sands NYSE: LVS is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company's operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company's portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.

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