United Services Automobile Association Makes New Investment in Las Vegas Sands Corp. $LVS

Key Points

• United Services Automobile Association has acquired 7,878 shares of Las Vegas Sands Corp., valued at approximately $301,000, in the first quarter of 2023.
• Las Vegas Sands announced a quarterly dividend of $0.25 per share, representing a 1.9% dividend yield and a payout ratio of 50.51%.
• Despite a recent decline in stock price by 2.2%, analysts maintain a generally positive outlook, with a consensus rating of "Moderate Buy" and an average target price of $59.47 for Las Vegas Sands shares.

United Services Automobile Association bought a new stake in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 7,878 shares of the casino operator's stock, valued at approximately $301,000.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Las Vegas Sands by 5.8% during 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 purchasing an additional 2,267,307 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Las Vegas Sands by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,722,816 shares of the casino operator's stock valued at $607,373,000 after purchasing an additional 592,321 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Las Vegas Sands by 6.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,415,492 shares of the casino operator's stock valued at $479,610,000 after purchasing an additional 752,944 shares during the last quarter. Invesco Ltd. raised its stake in Las Vegas Sands by 9.1% during the 1st quarter. Invesco Ltd. now owns 9,442,798 shares of the casino operator's stock valued at $364,775,000 after purchasing an additional 790,952 shares during the last quarter. Finally, ARGA Investment Management LP raised its stake in Las Vegas Sands by 12.9% during the 1st quarter. ARGA Investment Management LP now owns 7,342,577 shares of the casino operator's stock valued at $283,644,000 after purchasing an additional 841,195 shares during the last quarter. 39.16% of the stock is currently owned by institutional investors and hedge funds.

Las Vegas Sands Price Performance

Shares of Las Vegas Sands stock traded down $1.21 during mid-day trading on Tuesday, reaching $51.88. 6,442,331 shares of the stock were exchanged, compared to its average volume of 5,580,134. The company has a market cap of $35.61 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. The company has a current ratio of 1.22, a quick ratio of 1.21 and a debt-to-equity ratio of 6.53. The firm has a 50-day simple moving average of $52.89 and a 200 day simple moving average of $44.58. Las Vegas Sands Corp. has a fifty-two week low of $30.18 and a fifty-two week high of $58.05.

Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.26. Las Vegas Sands had a net margin of 12.16% and a return on equity of 55.37%. The business had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter last year, the company posted $0.55 EPS. The firm's revenue for the quarter was up 15.0% on a year-over-year basis. On average, sell-side analysts predict that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.

Las Vegas Sands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Tuesday, August 5th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. Las Vegas Sands's dividend payout ratio is currently 50.51%.

Analysts Set New Price Targets

LVS has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Las Vegas Sands from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Argus upgraded shares of Las Vegas Sands from a "hold" rating to a "buy" rating and set a $60.00 price objective for the company in a research note on Monday, July 28th. Barclays increased their price objective on shares of Las Vegas Sands from $57.00 to $58.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Mizuho increased their price objective on shares of Las Vegas Sands from $47.00 to $56.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Susquehanna dropped their price objective on shares of Las Vegas Sands from $59.00 to $58.00 and set a "positive" rating for the company in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $59.47.

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.