Sumitomo Mitsui Trust Group Inc. Sells 26,100 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Sumitomo Mitsui Trust Group Inc. decreased its position in Las Vegas Sands Corp. (NYSE:LVS) by 3.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 723,061 shares of the casino operator’s stock after selling 26,100 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Las Vegas Sands were worth $36,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC lifted its holdings in shares of Las Vegas Sands by 118.8% in the 3rd quarter. CVA Family Office LLC now owns 560 shares of the casino operator’s stock worth $28,000 after buying an additional 304 shares during the period. Bank & Trust Co bought a new stake in shares of Las Vegas Sands in the second quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new stake in Las Vegas Sands in the third quarter worth about $34,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Las Vegas Sands by 93.2% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 906 shares of the casino operator’s stock worth $40,000 after acquiring an additional 437 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Las Vegas Sands by 40.1% during the 3rd quarter. GAMMA Investing LLC now owns 849 shares of the casino operator’s stock valued at $43,000 after purchasing an additional 243 shares during the period. Institutional investors own 39.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Macquarie lowered their price target on shares of Las Vegas Sands from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Argus lowered Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. UBS Group lifted their price target on Las Vegas Sands from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Stifel Nicolaus upped their price objective on Las Vegas Sands from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Susquehanna lifted their target price on Las Vegas Sands from $51.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Las Vegas Sands presently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Insider Activity

In related news, CEO Robert G. Goldstein sold 24,324 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $52.00, for a total value of $1,264,848.00. Following the transaction, the chief executive officer now owns 60,187 shares in the company, valued at approximately $3,129,724. This represents a 28.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.91% of the company’s stock.

Las Vegas Sands Stock Performance

LVS opened at $47.96 on Friday. The firm’s 50-day moving average price is $48.72 and its 200-day moving average price is $44.73. The company has a market cap of $34.77 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 1.31 and a beta of 1.11. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 3.09. Las Vegas Sands Corp. has a 52-week low of $36.62 and a 52-week high of $55.65.

Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings results on Wednesday, October 23rd. The casino operator reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Las Vegas Sands had a return on equity of 44.26% and a net margin of 13.29%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS. As a group, equities analysts anticipate that Las Vegas Sands Corp. will post 2.33 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.80 annualized dividend and a yield of 1.67%. Las Vegas Sands’s payout ratio is presently 39.60%.

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.