Vanguard Group Inc. Buys 2,267,307 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Key Points

• Vanguard Group Inc. increased its investment in Las Vegas Sands Corp. by 5.8%, holding 41,249,208 shares valued at approximately $1.59 billion as of the last quarter.
• Las Vegas Sands reported $0.79 EPS for the latest quarter, exceeding estimates, with revenue of $3.18 billion, representing a year-over-year growth of 15%.
• The company declared a quarterly dividend of $0.25 per share, with an annualized yield of 1.9%, and initiated a $2 billion share repurchase program, indicating confidence in its stock value.

Vanguard Group Inc. grew its stake in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,249,208 shares of the casino operator's stock after acquiring an additional 2,267,307 shares during the quarter. Vanguard Group Inc. owned 5.84% of Las Vegas Sands worth $1,593,457,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Optiver Holding B.V. bought a new position in shares of Las Vegas Sands during the 4th quarter worth approximately $32,000. Center for Financial Planning Inc. bought a new position in shares of Las Vegas Sands during the 1st quarter worth approximately $42,000. 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 worth $59,000 after acquiring an additional 856 shares in the last quarter. GeoWealth Management LLC grew its stake in shares of Las Vegas Sands by 104.7% during the 4th quarter. GeoWealth Management LLC now owns 1,775 shares of the casino operator's stock worth $91,000 after acquiring an additional 908 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Las Vegas Sands in the 1st quarter valued at approximately $127,000. 39.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LVS has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on Las Vegas Sands from $47.00 to $56.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. UBS Group raised their price target on Las Vegas Sands from $48.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Bank of America raised their price target on Las Vegas Sands from $52.50 to $58.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Hsbc Global Res upgraded Las Vegas Sands to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, 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. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $58.33.

Las Vegas Sands Stock Performance

LVS stock traded up $0.81 during midday trading on Tuesday, hitting $53.83. The company's stock had a trading volume of 5,300,494 shares, compared to its average volume of 5,133,846. The stock's 50-day moving average price is $47.07 and its 200 day moving average price is $42.64. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 6.53. Las Vegas Sands Corp. has a 1 year low of $30.18 and a 1 year high of $56.60. The stock has a market cap of $36.95 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 2.01 and a beta of 1.08.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The casino operator reported $0.79 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The business's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts forecast that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands Dividend Announcement

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

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

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.