Pictet Asset Management Ltd. Decreases Stake in Las Vegas Sands Corp. (LVS)

Pictet Asset Management Ltd. lowered its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 16.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 993,702 shares of the casino operator’s stock after selling 190,135 shares during the period. Pictet Asset Management Ltd. owned about 0.13% of Las Vegas Sands Corp. worth $58,758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rathbone Brothers plc increased its stake in Las Vegas Sands Corp. by 24.0% in the first quarter. Rathbone Brothers plc now owns 7,098 shares of the casino operator’s stock valued at $405,000 after buying an additional 1,372 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Las Vegas Sands Corp. by 27.0% in the first quarter. Gulf International Bank UK Ltd now owns 8,948 shares of the casino operator’s stock valued at $510,000 after buying an additional 1,900 shares in the last quarter. Dynamic Advisors Solutions LLC acquired a new stake in Las Vegas Sands Corp. during the first quarter valued at approximately $4,098,000. Vontobel Asset Management Inc. increased 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 valued at $327,900,000 after buying an additional 1,297,306 shares in the last quarter. Finally, National Pension Service increased 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 valued at $21,661,000 after buying an additional 46,882 shares in the last quarter. 38.52% of the stock is currently owned by hedge funds and other institutional investors.

Las Vegas Sands Corp. (NYSE:LVS) traded down 0.17% during midday trading on Friday, hitting $60.01. 2,830,601 shares of the stock traded hands. The stock has a market capitalization of $47.53 billion, a PE ratio of 23.35 and a beta of 1.81. Las Vegas Sands Corp. has a 12-month low of $49.89 and a 12-month high of $66.22. The firm’s 50 day moving average is $61.57 and its 200-day moving average is $58.52.

Las Vegas Sands Corp. (NYSE:LVS) last posted its earnings results on Wednesday, July 26th. The casino operator reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.14. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.01 billion. Las Vegas Sands Corp. had a return on equity of 29.91% and a net margin of 16.66%. The company’s revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. On average, analysts anticipate that Las Vegas Sands Corp. will post $2.74 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 21st will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date is Wednesday, September 20th. Las Vegas Sands Corp.’s dividend payout ratio (DPR) is presently 113.18%.

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Several analysts have commented on LVS shares. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $63.00 target price on shares of Las Vegas Sands Corp. in a research report on Thursday, April 20th. Aegis restated a “buy” rating and issued a $60.00 price objective (up from $59.00) on shares of Las Vegas Sands Corp. in a research note on Sunday, April 23rd. Vetr cut shares of Las Vegas Sands Corp. from a “buy” rating to a “hold” rating and set a $61.32 price objective for the company. in a research note on Wednesday, April 26th. Telsey Advisory Group boosted their price objective on shares of Las Vegas Sands Corp. from $58.00 to $62.00 and gave the stock a “market perform” rating in a research note on Thursday, April 27th. Finally, Stifel Nicolaus boosted their price objective on shares of Las Vegas Sands Corp. from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, April 27th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $63.10.

About Las Vegas Sands Corp.

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.