Zurcher Kantonalbank Zurich Cantonalbank Sells 51,160 Shares of Las Vegas Sands Corp. (LVS)
Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Las Vegas Sands Corp. (NYSE:LVS) by 21.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 187,130 shares of the casino operator’s stock after selling 51,160 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Las Vegas Sands were worth $14,289,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its stake in Las Vegas Sands by 16.6% in the 1st quarter. IFP Advisors Inc now owns 4,870 shares of the casino operator’s stock valued at $350,000 after acquiring an additional 693 shares during the period. Alps Advisors Inc. grew its stake in Las Vegas Sands by 12.1% in the 2nd quarter. Alps Advisors Inc. now owns 7,295 shares of the casino operator’s stock valued at $507,000 after acquiring an additional 786 shares during the period. Wagner Bowman Management Corp grew its stake in Las Vegas Sands by 14.5% in the 2nd quarter. Wagner Bowman Management Corp now owns 6,503 shares of the casino operator’s stock valued at $496,000 after acquiring an additional 824 shares during the period. Blair William & Co. IL grew its stake in Las Vegas Sands by 14.0% in the 1st quarter. Blair William & Co. IL now owns 6,817 shares of the casino operator’s stock valued at $490,000 after acquiring an additional 838 shares during the period. Finally, Hodges Capital Management Inc. grew its stake in Las Vegas Sands by 15.2% in the 1st quarter. Hodges Capital Management Inc. now owns 7,600 shares of the casino operator’s stock valued at $546,000 after acquiring an additional 1,000 shares during the period. 37.69% of the stock is currently owned by hedge funds and other institutional investors.
In other Las Vegas Sands news, COO Robert G. Goldstein bought 10,000 shares of the stock in a transaction on Tuesday, July 31st. The shares were bought at an average price of $71.13 per share, with a total value of $711,300.00. Following the purchase, the chief operating officer now directly owns 10,000 shares in the company, valued at approximately $711,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.20% of the company’s stock.
Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, July 25th. The casino operator reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.06). Las Vegas Sands had a return on equity of 35.22% and a net margin of 28.06%. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the firm earned $0.73 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. analysts forecast that Las Vegas Sands Corp. will post 3.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Wednesday, September 19th will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, September 18th. This represents a $3.00 annualized dividend and a yield of 4.42%. Las Vegas Sands’s dividend payout ratio (DPR) is presently 98.68%.
LVS has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Las Vegas Sands from a “hold” rating to a “strong-buy” rating and set a $84.00 price target on the stock in a research note on Monday, April 30th. Morgan Stanley lifted their price target on shares of Las Vegas Sands from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, April 26th. Nomura dropped their price target on shares of Las Vegas Sands from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, July 9th. ValuEngine cut shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Finally, Bank of America cut shares of Las Vegas Sands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $80.00 in a research note on Monday, July 2nd. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $77.42.
About Las Vegas Sands
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, 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 iconic Marina Bay Sands in Singapore.
Read More: Earnings Per Share (EPS)
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