HB Wealth Management LLC recently underscored its confidence in Las Vegas Sands Corp. (LVS) by significantly increasing its stake in the casino operator’s shares during the first quarter. This strategic move, detailed in their latest SEC filing, saw the firm expand its holdings by a notable 37.1%, acquiring an additional 2,002 shares to bring their total ownership to 7,398 shares, valued at $286,000.
This growth in HB Wealth Management’s portfolio reflects a broader trend among institutional investors, as numerous other prominent funds have also adjusted their positions in Las Vegas Sands. Capital Research Global Investors, for instance, dramatically raised its stake by 26.5% in the fourth quarter, now commanding over 58 million shares valued at more than $3 billion, highlighting substantial confidence in LVS stock.
Similarly, Janus Henderson Group PLC demonstrated a bullish outlook, boosting its holdings by a remarkable 55.7% during the same period, bringing their total to over 14 million shares. Bank of New York Mellon Corp and Geode Capital Management LLC also made modest increases to their LVS positions in the first and fourth quarters respectively, indicating sustained interest from major financial players.
Further emphasizing this institutional interest, ARGA Investment Management LP expanded its stake by nearly 13% in the first quarter, adding over 840,000 shares to its portfolio. Cumulatively, institutional investors and hedge funds now control a substantial 39.16% of Las Vegas Sands’ outstanding stock, signaling a strong institutional presence in the company’s equity.
Beyond institutional movements, Las Vegas Sands Corp.’s stock has shown dynamic market behavior. The company’s shares recently opened at $52.29, maintaining a fifty-day moving average of $45.66 and a 200-day moving average of $42.30. With a robust market capitalization of $35.89 billion, LVS continues to be a significant entity in the casino and resort sector, reflecting its underlying financial performance.
In a move that often signals management’s belief in undervaluation, Las Vegas Sands recently announced a substantial stock repurchase plan. The company’s board approved a $2.00 billion authorization, allowing for the buyback of up to 8.2% of its outstanding shares through open market purchases, a strategic decision aimed at enhancing shareholder value.
Adding to its appeal for investors, Las Vegas Sands Corp. also declared a quarterly dividend of $0.25 per share, translating to an annualized dividend of $1.00 and a yield of 1.9%. This dividend, payable in August, reinforces the company’s commitment to returning value to its shareholders, with a current payout ratio of 50.51%.
Analyst sentiment surrounding LVS remains largely positive, with several brokerages issuing updated reports. UBS Group raised its price target to $55.00 with a “neutral” rating, while Susquehanna maintained a “positive” rating with a target of $58.00. The Goldman Sachs Group and Citigroup both initiated or reaffirmed “neutral” and “buy” ratings respectively, contributing to an overall “Moderate Buy” consensus and an average target price of $58.13.
Las Vegas Sands Corp. continues to solidify its position as a global leader in integrated resorts, owning and operating iconic properties across Macao and Singapore. These include The Venetian Macao, The Londoner Macao, The Parisian Macao, and Marina Bay Sands in Singapore, cementing its standing as a premier casino operator with diverse international assets.
