Allspring Global Investments Holdings LLC Decreases Stock Holdings in Las Vegas Sands Corp. $LVS

Allspring Global Investments Holdings LLC decreased its position in Las Vegas Sands Corp. (NYSE:LVS) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,158 shares of the casino operator’s stock after selling 927 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Las Vegas Sands were worth $671,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. CWM LLC increased its position in shares of Las Vegas Sands by 450.3% in the second quarter. CWM LLC now owns 57,636 shares of the casino operator’s stock valued at $2,508,000 after acquiring an additional 47,162 shares during the period. Aberdeen Group plc boosted its stake in shares of Las Vegas Sands by 4.5% during the 2nd quarter. Aberdeen Group plc now owns 246,599 shares of the casino operator’s stock valued at $10,730,000 after purchasing an additional 10,637 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of Las Vegas Sands during the 2nd quarter valued at about $224,000. US Bancorp DE boosted its stake in shares of Las Vegas Sands by 19.0% during the 2nd quarter. US Bancorp DE now owns 132,690 shares of the casino operator’s stock valued at $5,773,000 after purchasing an additional 21,207 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Las Vegas Sands during the 2nd quarter valued at about $218,000. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Analyst Upgrades and Downgrades

LVS has been the topic of a number of research reports. Zacks Research raised shares of Las Vegas Sands from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. The Goldman Sachs Group cut their target price on shares of Las Vegas Sands from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Macquarie lifted their target price on shares of Las Vegas Sands from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Las Vegas Sands from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Argus lifted their target price on shares of Las Vegas Sands from $60.00 to $65.00 in a research note on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Las Vegas Sands Trading Up 12.3%

Shares of NYSE LVS opened at $56.83 on Friday. Las Vegas Sands Corp. has a 1 year low of $30.18 and a 1 year high of $58.05. The stock has a market cap of $39.01 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 1.82 and a beta of 1.01. The firm has a 50-day moving average of $53.28 and a 200 day moving average of $46.54. The company has a debt-to-equity ratio of 6.53, a current ratio of 1.22 and a quick ratio of 1.21.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings results on Wednesday, October 22nd. The casino operator reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.16. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Las Vegas Sands had a net margin of 12.69% and a return on equity of 66.94%. Las Vegas Sands’s revenue was up 24.2% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. As a group, sell-side analysts expect that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.

Las Vegas Sands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Tuesday, November 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, November 4th. Las Vegas Sands’s dividend payout ratio is currently 50.51%.

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.