Chevy Chase Trust Holdings LLC Cuts Holdings in Las Vegas Sands Corp. $LVS

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 0.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 179,148 shares of the casino operator’s stock after selling 1,074 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Las Vegas Sands were worth $7,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its stake in shares of Las Vegas Sands by 37.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 876 shares of the casino operator’s stock worth $38,000 after buying an additional 239 shares in the last quarter. Hilltop National Bank purchased a new position in shares of Las Vegas Sands during the 2nd quarter worth approximately $44,000. Center for Financial Planning Inc. purchased a new position in shares of Las Vegas Sands during the 1st quarter worth approximately $42,000. UMB Bank n.a. raised its stake in shares of Las Vegas Sands by 53.8% during the 2nd quarter. UMB Bank n.a. now owns 1,361 shares of the casino operator’s stock worth $59,000 after buying an additional 476 shares in the last quarter. Finally, Harbour Investments Inc. raised its stake in shares of Las Vegas Sands by 21.4% during the 2nd quarter. Harbour Investments Inc. now owns 1,401 shares of the casino operator’s stock worth $61,000 after buying an additional 247 shares in the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands Stock Performance

Las Vegas Sands stock opened at $49.75 on Tuesday. The company has a debt-to-equity ratio of 6.53, a quick ratio of 1.21 and a current ratio of 1.22. The stock has a fifty day moving average of $53.37 and a two-hundred day moving average of $46.31. The company has a market capitalization of $34.15 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.77 and a beta of 1.01. 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) last released its quarterly earnings results on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.26. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $2.83 billion. Las Vegas Sands had a return on equity of 55.37% and a net margin of 12.16%.Las Vegas Sands’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. On average, analysts anticipate that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. Las Vegas Sands’s dividend payout ratio (DPR) is 50.51%.

Wall Street Analyst Weigh In

LVS has been the subject of a number of analyst reports. Zacks Research raised Las Vegas Sands from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Mizuho raised their price objective on Las Vegas Sands from $47.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. The Goldman Sachs Group dropped their price objective on Las Vegas Sands from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Wall Street Zen raised Las Vegas Sands from a “hold” rating to a “buy” rating in a research note on Sunday, September 7th. Finally, Bank of America raised their price objective on Las Vegas Sands from $52.50 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.47.

Las Vegas Sands 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.