Sumitomo Life Insurance Co. Buys 1,313 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Sumitomo Life Insurance Co. increased its position in Las Vegas Sands Corp. (NYSE:LVS) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,163 shares of the casino operator’s stock after buying an additional 1,313 shares during the period. Sumitomo Life Insurance Co.’s holdings in Las Vegas Sands Corp. were worth $1,991,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Banced Corp boosted its stake in Las Vegas Sands Corp. by 6.5% in the first quarter. Banced Corp now owns 7,489 shares of the casino operator’s stock worth $427,000 after buying an additional 460 shares in the last quarter. Gradient Investments LLC bought a new stake in Las Vegas Sands Corp. during the first quarter worth approximately $6,525,000. Bank of Montreal Can boosted its stake in Las Vegas Sands Corp. by 2.1% in the first quarter. Bank of Montreal Can now owns 442,373 shares of the casino operator’s stock worth $25,245,000 after buying an additional 9,306 shares in the last quarter. National Pension Service boosted its stake in Las Vegas Sands Corp. by 14.1% in the first quarter. National Pension Service now owns 379,821 shares of the casino operator’s stock worth $21,661,000 after buying an additional 46,882 shares in the last quarter. Finally, Vontobel Asset Management Inc. boosted its stake in Las Vegas Sands Corp. by 29.8% in the first quarter. Vontobel Asset Management Inc. now owns 5,646,362 shares of the casino operator’s stock worth $327,900,000 after buying an additional 1,297,306 shares in the last quarter. Hedge funds and other institutional investors own 38.31% of the company’s stock.

Shares of Las Vegas Sands Corp. (NYSE LVS) opened at 61.28 on Monday. Las Vegas Sands Corp. has a one year low of $49.09 and a one year high of $66.22. The company has a market capitalization of $48.53 billion, a P/E ratio of 23.84 and a beta of 1.81. The stock has a 50 day moving average price of $63.20 and a 200-day moving average price of $57.94.

Las Vegas Sands Corp. (NYSE:LVS) last announced its quarterly earnings data on Wednesday, July 26th. The casino operator reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.14. Las Vegas Sands Corp. had a return on equity of 29.31% and a net margin of 16.66%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the company earned $0.52 EPS. The company’s quarterly revenue was up 18.5% on a year-over-year basis. Equities research analysts predict that Las Vegas Sands Corp. will post $2.67 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be given a $0.73 dividend. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.77%. Las Vegas Sands Corp.’s dividend payout ratio is currently 113.18%.

A number of research firms recently commented on LVS. Instinet reiterated a “neutral” rating and set a $54.00 price objective (up previously from $50.00) on shares of Las Vegas Sands Corp. in a research report on Monday, June 19th. Zacks Investment Research upgraded Las Vegas Sands Corp. from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Tuesday, June 27th. Stifel Nicolaus restated a “buy” rating and issued a $66.00 price target on shares of Las Vegas Sands Corp. in a report on Tuesday, July 4th. Wells Fargo & Company restated a “neutral” rating on shares of Las Vegas Sands Corp. in a report on Tuesday, July 4th. Finally, Vetr cut Las Vegas Sands Corp. from a “buy” rating to a “hold” rating and set a $64.62 price target for the company. in a report on Monday, June 5th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $62.65.

Las Vegas Sands Corp. Company Profile

Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.

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