Mizuho Securities USA LLC Sells 5,469 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Key Points

• Mizuho Securities USA LLC has reduced its stake in Las Vegas Sands by 16.6%, selling 5,469 shares during the first quarter, leaving them with 27,515 shares worth approximately $1,063,000.
• Las Vegas Sands reported strong earnings with an EPS of $0.79, surpassing analysts' expectations of $0.53, and a revenue of $3.18 billion, which was significantly above the estimated $2.83 billion.
• The company has announced a quarterly dividend of $0.25 per share, with a 1.9% yield, and has authorized a $2.00 billion share buyback program, indicating confidence in its stock value.

Mizuho Securities USA LLC cut its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 16.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,515 shares of the casino operator's stock after selling 5,469 shares during the period. Mizuho Securities USA LLC's holdings in Las Vegas Sands were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. raised its stake in shares of Las Vegas Sands by 55.4% in the 1st quarter. Achmea Investment Management B.V. now owns 31,411 shares of the casino operator's stock valued at $1,213,000 after purchasing an additional 11,197 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Las Vegas Sands by 18.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,005 shares of the casino operator's stock valued at $1,489,000 after purchasing an additional 6,057 shares during the period. Northern Trust Corp raised its stake in shares of Las Vegas Sands by 12.4% in the 4th quarter. Northern Trust Corp now owns 3,088,597 shares of the casino operator's stock valued at $158,630,000 after purchasing an additional 339,992 shares during the period. Everett Harris & Co. CA acquired a new stake in shares of Las Vegas Sands in the first quarter valued at about $657,000. Finally, Asset Management One Co. Ltd. increased its position in shares of Las Vegas Sands by 8.9% in the first quarter. Asset Management One Co. Ltd. now owns 150,120 shares of the casino operator's stock valued at $5,799,000 after acquiring an additional 12,251 shares during the last quarter. 39.16% of the stock is currently owned by institutional investors.

Las Vegas Sands Price Performance

NYSE LVS traded down $0.44 on Friday, hitting $53.68. 3,487,695 shares of the company's stock were exchanged, compared to its average volume of 5,070,876. The stock has a 50-day moving average of $48.11 and a 200-day moving average of $42.94. The company has a current ratio of 1.22, a quick ratio of 1.21 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 $36.85 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 2.03 and a beta of 1.08.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its earnings results 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 firm had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $2.83 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The company's quarterly revenue was up 15.0% on a year-over-year basis. Analysts expect that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.

Las Vegas Sands announced that its board has authorized a stock repurchase program on Wednesday, April 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the casino operator to repurchase up to 8.2% of its stock through open market purchases. Stock buyback programs are typically 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 was paid on Wednesday, August 13th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.00 annualized dividend and a yield of 1.9%. Las Vegas Sands's dividend payout ratio is presently 50.51%.

Analysts Set New Price Targets

A number of analysts recently issued reports on LVS shares. Bank of America lifted their target price on Las Vegas Sands from $52.50 to $58.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on Las Vegas Sands from $47.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Stifel Nicolaus set a $57.00 target price on Las Vegas Sands and gave the company a "buy" rating in a research report on Thursday, April 24th. Macquarie lifted their target price on Las Vegas Sands from $52.00 to $58.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Susquehanna lowered their target price on Las Vegas Sands from $59.00 to $58.00 and set a "positive" rating on the stock in a research report on Monday, July 21st. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.33.

Las Vegas Sands Company 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.