Mitsubishi UFJ Asset Management Co. Ltd. Purchases 26,025 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Las Vegas Sands Corp. by 4.5%, resulting in ownership of 601,688 shares worth $23.24 million.
• A number of analysts have upgraded their ratings on Las Vegas Sands, with the consensus being a "Moderate Buy" and an average price target of $58.33.
• Las Vegas Sands announced a quarterly dividend of $0.25 per share, which represents a 1.9% yield, along with plans for a $2 billion share repurchase program.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 601,688 shares of the casino operator's stock after acquiring an additional 26,025 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of Las Vegas Sands worth $23,243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Deutsche Bank AG raised its holdings in shares of Las Vegas Sands by 21.1% in the 1st quarter. Deutsche Bank AG now owns 1,629,899 shares of the casino operator's stock valued at $62,963,000 after acquiring an additional 283,455 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Las Vegas Sands by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,153,220 shares of the casino operator's stock valued at $83,179,000 after acquiring an additional 15,158 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Las Vegas Sands by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 41,249,208 shares of the casino operator's stock valued at $1,593,457,000 after acquiring an additional 2,267,307 shares in the last quarter. Malaga Cove Capital LLC raised its holdings in shares of Las Vegas Sands by 106.1% in the 1st quarter. Malaga Cove Capital LLC now owns 19,387 shares of the casino operator's stock valued at $749,000 after acquiring an additional 9,979 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Las Vegas Sands by 142.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 16,054 shares of the casino operator's stock valued at $647,000 after acquiring an additional 54,155 shares in the last quarter. Hedge funds and other institutional investors own 39.16% of the company's stock.

Las Vegas Sands Trading Up 0.2%

Las Vegas Sands stock traded up $0.13 during trading hours on Friday, reaching $54.25. The company had a trading volume of 937,291 shares, compared to its average volume of 5,673,207. The firm has a market cap of $37.24 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 2.06 and a beta of 1.08. Las Vegas Sands Corp. has a 12-month low of $30.18 and a 12-month high of $56.60. The company has a 50-day moving average price of $47.84 and a 200 day moving average price of $42.87. The company has a debt-to-equity ratio of 6.53, a current ratio of 1.22 and a quick ratio of 1.21.

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 analysts' consensus estimates of $0.53 by $0.26. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $2.83 billion. Las Vegas Sands had a return on equity of 55.37% and a net margin of 12.16%. The business's quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company earned $0.55 EPS. Equities analysts forecast that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.

Las Vegas Sands announced that its Board of Directors has authorized a share buyback program on Wednesday, April 23rd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the casino operator to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Las Vegas Sands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Tuesday, August 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Tuesday, August 5th. Las Vegas Sands's dividend payout ratio (DPR) is currently 50.51%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Susquehanna decreased their price objective 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. UBS Group raised their price objective on Las Vegas Sands from $48.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Hsbc Global Res raised Las Vegas Sands to a "strong-buy" rating in a report on Thursday, April 24th. Morgan Stanley raised their price objective on Las Vegas Sands from $47.00 to $50.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, Argus raised Las Vegas Sands from a "hold" rating to a "buy" rating and set a $60.00 price objective on the stock in a report on Monday, July 28th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.