Osborne Partners Capital Management LLC Cuts Stake in Las Vegas Sands Corp. $LVS

Key Points

• Osborne Partners Capital Management cut its Las Vegas Sands stake by 26.9% in the first quarter, selling 62,843 shares and leaving it with 170,370 shares valued at about $9.18 million.
• Las Vegas Sands reported a strong quarter, posting $0.91 EPS versus the $0.76 consensus and $3.58 billion in revenue, which topped expectations and rose 25.3% year over year.
• The company paid a quarterly dividend of $0.30 per share, equal to an annualized yield of about 2.5%, while analysts currently rate the stock a Moderate Buy with an average price target of $67.28.

Osborne Partners Capital Management LLC lowered its stake in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,370 shares of the casino operator's stock after selling 62,843 shares during the period. Osborne Partners Capital Management LLC's holdings in Las Vegas Sands were worth $9,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of LVS. Mackenzie Financial Corp increased its holdings in Las Vegas Sands by 0.3% in the 3rd quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator's stock valued at $2,902,000 after acquiring an additional 156 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Las Vegas Sands by 7.8% during the 3rd quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator's stock valued at $132,000 after purchasing an additional 177 shares during the last quarter. &PARTNERS boosted its holdings in shares of Las Vegas Sands by 3.2% during the 4th quarter. &PARTNERS now owns 6,930 shares of the casino operator's stock valued at $453,000 after purchasing an additional 214 shares during the last quarter. United Capital Financial Advisors LLC grew its position in shares of Las Vegas Sands by 5.5% during the third quarter. United Capital Financial Advisors LLC now owns 4,945 shares of the casino operator's stock valued at $266,000 after purchasing an additional 258 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of Las Vegas Sands by 4.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 6,859 shares of the casino operator's stock valued at $446,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 39.16% of the company's stock.

Las Vegas Sands Stock Performance

NYSE:LVS opened at $47.06 on Friday. The stock's fifty day moving average is $50.32 and its 200 day moving average is $55.35. Las Vegas Sands Corp. has a fifty-two week low of $45.62 and a fifty-two week high of $70.45. The firm has a market capitalization of $31.18 billion, a PE ratio of 17.43, a PEG ratio of 1.06 and a beta of 0.83. 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 posted its quarterly earnings data on Wednesday, April 22nd. The casino operator reported $0.91 EPS for the quarter, topping the consensus estimate of $0.76 by $0.15. Las Vegas Sands had a net margin of 13.41% and a return on equity of 118.27%. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same period in the previous year, the firm earned $0.59 earnings per share. Las Vegas Sands's quarterly revenue was up 25.3% compared to the same quarter last year. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Tuesday, May 5th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, May 5th. Las Vegas Sands's dividend payout ratio (DPR) is 44.44%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LVS. Barclays boosted their target price on Las Vegas Sands from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Citigroup increased their target price on Las Vegas Sands from $76.75 to $78.50 and gave the company a "buy" rating in a research report on Monday, April 13th. Weiss Ratings cut shares of Las Vegas Sands from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. Wells Fargo & Company lowered their price objective on shares of Las Vegas Sands from $68.00 to $65.00 and set an "equal weight" rating for the company in a research report on Thursday, April 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Las Vegas Sands from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Las Vegas Sands presently has a consensus rating of "Moderate Buy" and an average price target of $67.28.

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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