Northwestern Mutual Wealth Management Co. grew its position in Las Vegas Sands Corp. (NYSE:LVS) by 2.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 117,015 shares of the casino operator’s stock after buying an additional 3,047 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Las Vegas Sands were worth $6,943,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new position in Las Vegas Sands in the second quarter worth about $135,000. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Las Vegas Sands in the third quarter worth about $126,000. Legacy Financial Advisors Inc. purchased a new position in Las Vegas Sands in the third quarter worth about $156,000. Zacks Investment Management purchased a new position in Las Vegas Sands in the second quarter worth about $202,000. Finally, Pennsylvania Trust Co purchased a new position in Las Vegas Sands in the second quarter worth about $210,000. 38.70% of the stock is owned by institutional investors and hedge funds.
LVS opened at $55.41 on Wednesday. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.93 and a quick ratio of 1.92. Las Vegas Sands Corp. has a twelve month low of $49.28 and a twelve month high of $81.45. The company has a market cap of $44.07 billion, a PE ratio of 18.23 and a beta of 1.59.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Tuesday, December 18th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, December 17th. This represents a $3.00 annualized dividend and a dividend yield of 5.41%. Las Vegas Sands’s payout ratio is 98.68%.
Several research analysts have issued reports on the stock. Nomura decreased their target price on shares of 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 target price on shares of Las Vegas Sands from $89.00 to $70.00 and set a “buy” rating for the company in a report on Friday, October 26th. Zacks Investment Research raised shares of Las Vegas Sands from a “strong sell” rating to a “hold” rating in a report on Monday, October 29th. Stifel Nicolaus decreased their target price on shares of Las Vegas Sands from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, July 26th. Finally, Morgan Stanley set a $68.00 target price on shares of Las Vegas Sands and gave the stock a “buy” rating in a report on Thursday, October 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $73.50.
In related news, EVP Lawrence A. Jacobs sold 66,667 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $60.95, for a total transaction of $4,063,353.65. Following the completion of the sale, the executive vice president now directly owns 66,667 shares in the company, valued at $4,063,353.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.20% of the stock is owned by insiders.
About Las Vegas Sands
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.
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