Swiss National Bank lowered its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 3.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,259,639 shares of the casino operator’s stock after selling 44,200 shares during the period. Swiss National Bank’s holdings in Las Vegas Sands were worth $74,734,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Commonwealth Bank of Australia lifted its holdings in Las Vegas Sands by 6.7% during the third quarter. Commonwealth Bank of Australia now owns 79,699 shares of the casino operator’s stock worth $4,722,000 after buying an additional 5,000 shares during the period. Twin Capital Management Inc. purchased a new stake in Las Vegas Sands during the third quarter worth $561,000. Formidable Asset Management LLC lifted its holdings in Las Vegas Sands by 3.7% during the third quarter. Formidable Asset Management LLC now owns 48,617 shares of the casino operator’s stock worth $2,954,000 after buying an additional 1,737 shares during the period. MML Investors Services LLC lifted its holdings in Las Vegas Sands by 66.9% during the third quarter. MML Investors Services LLC now owns 7,374 shares of the casino operator’s stock worth $438,000 after buying an additional 2,956 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Las Vegas Sands by 11.7% during the third quarter. Rhumbline Advisers now owns 395,903 shares of the casino operator’s stock worth $23,489,000 after buying an additional 41,318 shares during the period. Institutional investors own 37.21% of the company’s stock.

Shares of LVS opened at $50.45 on Tuesday. Las Vegas Sands Corp. has a 12 month low of $49.28 and a 12 month high of $81.45. The company has a quick ratio of 1.92, a current ratio of 1.93 and a debt-to-equity ratio of 1.52. The firm has a market cap of $42.16 billion, a PE ratio of 16.60 and a beta of 1.59.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, October 24th. The casino operator reported $0.77 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.04). Las Vegas Sands had a net margin of 27.71% and a return on equity of 34.18%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Analysts forecast that Las Vegas Sands Corp. will post 3.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Tuesday, December 18th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend is Monday, December 17th. Las Vegas Sands’s payout ratio is 98.68%.

In related news, EVP Lawrence A. Jacobs sold 66,667 shares of the company’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $60.95, for a total value of $4,063,353.65. Following the transaction, the executive vice president now directly owns 66,667 shares of the company’s stock, valued at approximately $4,063,353.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 10.20% of the stock is owned by corporate insiders.

A number of research firms have weighed in on LVS. Stifel Nicolaus lowered their target price on Las Vegas Sands from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, July 26th. Zacks Investment Research upgraded Las Vegas Sands from a “strong sell” rating to a “hold” rating in a report on Monday, October 29th. Nomura lowered their target price on Las Vegas Sands from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. Argus decreased their price objective on Las Vegas Sands from $89.00 to $70.00 and set a “buy” rating for the company in a report on Friday, October 26th. Finally, Sanford C. Bernstein assumed coverage on Las Vegas Sands in a report on Thursday, November 15th. They set an “outperform” rating and a $81.45 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $74.03.

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Las Vegas Sands Profile

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.

Further Reading: Investing strategies using the yield curve

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Institutional Ownership by Quarter for Las Vegas Sands (NYSE:LVS)

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