Truist Financial Corp Cuts Stake in Las Vegas Sands Corp. (NYSE:LVS)

Truist Financial Corp reduced its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 11.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,473 shares of the casino operator’s stock after selling 1,220 shares during the period. Truist Financial Corp’s holdings in Las Vegas Sands were worth $487,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. CIBC Asset Management Inc lifted its holdings in shares of Las Vegas Sands by 3.6% during the 4th quarter. CIBC Asset Management Inc now owns 65,765 shares of the casino operator’s stock worth $3,378,000 after acquiring an additional 2,279 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Las Vegas Sands by 10.7% during the 4th quarter. Principal Financial Group Inc. now owns 606,755 shares of the casino operator’s stock worth $31,163,000 after acquiring an additional 58,683 shares during the period. Principal Securities Inc. lifted its holdings in shares of Las Vegas Sands by 539.3% during the 4th quarter. Principal Securities Inc. now owns 4,667 shares of the casino operator’s stock worth $240,000 after acquiring an additional 3,937 shares during the period. Valeo Financial Advisors LLC purchased a new position in shares of Las Vegas Sands during the 4th quarter worth about $202,000. Finally, Avestar Capital LLC purchased a new position in shares of Las Vegas Sands during the 4th quarter worth about $318,000. 39.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LVS shares. Morgan Stanley dropped their target price on shares of Las Vegas Sands from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. dropped their target price on shares of Las Vegas Sands from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Barclays dropped their target price on shares of Las Vegas Sands from $61.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Las Vegas Sands from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company dropped their target price on shares of Las Vegas Sands from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.42.

Las Vegas Sands Stock Up 1.6 %

Shares of NYSE:LVS opened at $45.41 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.74 and a debt-to-equity ratio of 3.35. Las Vegas Sands Corp. has a 52-week low of $36.62 and a 52-week high of $56.60. The company has a 50 day moving average of $45.86 and a two-hundred day moving average of $47.40. The company has a market capitalization of $32.51 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings results on Wednesday, January 29th. The casino operator reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). Las Vegas Sands had a return on equity of 45.82% and a net margin of 12.80%. As a group, analysts forecast that Las Vegas Sands Corp. will post 2.6 earnings per share for the current fiscal year.

Las Vegas Sands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Las Vegas Sands’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 2.20%. Las Vegas Sands’s dividend payout ratio (DPR) is 50.76%.

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.