Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Las Vegas Sands Corp. (NYSE:LVS)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Las Vegas Sands Corp. by 8.2%, bringing its ownership to 250,232 shares worth approximately $9.67 million.
• Las Vegas Sands has received a mixture of ratings from analysts, with the average rating being a "Moderate Buy" and a consensus price target of $58.13.
• The company announced a quarterly dividend of $0.25 per share, which represents an annualized payout of $1.00 and a yield of 1.89%.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 8.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 250,232 shares of the casino operator's stock after buying an additional 19,018 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Las Vegas Sands were worth $9,666,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Optiver Holding B.V. purchased a new stake in shares of Las Vegas Sands in the 4th quarter worth $32,000. Brown Brothers Harriman & Co. bought a new stake in Las Vegas Sands during the fourth quarter valued at about $36,000. Center for Financial Planning Inc. purchased a new stake in Las Vegas Sands in the first quarter worth about $42,000. Huntington National Bank raised its stake in shares of Las Vegas Sands by 64.1% in the fourth quarter. Huntington National Bank now owns 1,142 shares of the casino operator's stock worth $59,000 after buying an additional 446 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Las Vegas Sands by 133.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,499 shares of the casino operator's stock valued at $59,000 after acquiring an additional 856 shares during the period. 39.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on LVS shares. Stifel Nicolaus set a $57.00 price target on shares of Las Vegas Sands and gave the company a "buy" rating in a report on Thursday, April 24th. Argus upgraded shares of Las Vegas Sands from a "hold" rating to a "buy" rating and set a $60.00 target price on the stock in a research note on Monday. Bank of America increased their price target on Las Vegas Sands from $52.50 to $58.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. The Goldman Sachs Group initiated coverage on Las Vegas Sands in a report on Monday, July 7th. They set a "neutral" rating and a $52.00 price target on the stock. Finally, Susquehanna decreased their price target on Las Vegas Sands from $59.00 to $58.00 and set a "positive" rating on the stock in a report on Monday, July 21st. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $58.13.

Las Vegas Sands Trading Down 0.2%

NYSE LVS traded down $0.11 during trading hours on Friday, hitting $52.29. 5,585,751 shares of the company were exchanged, compared to its average volume of 4,978,896. The stock has a 50-day moving average price of $45.66 and a 200 day moving average price of $42.31. The company has a quick ratio of 0.59, a current ratio of 1.22 and a debt-to-equity ratio of 6.53. Las Vegas Sands Corp. has a 52 week low of $30.18 and a 52 week high of $56.60. The stock has a market cap of $35.89 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.26. Las Vegas Sands had a return on equity of 55.37% and a net margin of 12.16%. The company had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $2.83 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The firm's revenue for the quarter was up 15.0% on a year-over-year basis. Analysts forecast that Las Vegas Sands Corp. will post 2.6 earnings per share for the current fiscal year.

Las Vegas Sands declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the casino operator to reacquire up to 8.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Las Vegas Sands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 13th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, August 5th. Las Vegas Sands's payout ratio is 50.51%.

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.