Inspire Investing LLC acquired a new stake in Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 9,781 shares of the electronics maker’s stock, valued at approximately $765,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in DLB. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Dolby Laboratories by 7.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,687 shares of the electronics maker’s stock worth $679,000 after buying an additional 578 shares during the last quarter. CWM LLC raised its stake in shares of Dolby Laboratories by 73.2% during the 1st quarter. CWM LLC now owns 4,379 shares of the electronics maker’s stock worth $343,000 after buying an additional 1,850 shares during the last quarter. Cardinal Capital Management lifted its stake in shares of Dolby Laboratories by 7.0% during the 1st quarter. Cardinal Capital Management now owns 27,711 shares of the electronics maker’s stock worth $2,168,000 after buying an additional 1,815 shares during the last quarter. Boston Trust Walden Corp lifted its stake in shares of Dolby Laboratories by 14.6% during the 1st quarter. Boston Trust Walden Corp now owns 157,934 shares of the electronics maker’s stock worth $12,353,000 after buying an additional 20,071 shares during the last quarter. Finally, JGP Wealth Management LLC lifted its stake in shares of Dolby Laboratories by 13.0% during the 1st quarter. JGP Wealth Management LLC now owns 84,892 shares of the electronics maker’s stock worth $6,551,000 after buying an additional 9,789 shares during the last quarter. 59.34% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the stock. TheStreet upgraded shares of Dolby Laboratories from a “c+” rating to a “b-” rating in a research note on Friday, April 22nd. Rosenblatt Securities began coverage on shares of Dolby Laboratories in a research note on Monday, May 23rd. They issued a “buy” rating and a $90.00 price objective for the company. Barrington Research dropped their price objective on shares of Dolby Laboratories from $115.00 to $90.00 in a research note on Thursday, May 12th. Finally, StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, June 8th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Dolby Laboratories currently has an average rating of “Buy” and a consensus price target of $90.00.
Shares of Dolby Laboratories stock opened at $70.82 on Monday. The company has a 50-day simple moving average of $74.88 and a two-hundred day simple moving average of $79.17. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 1.80 and a beta of 0.99. Dolby Laboratories, Inc. has a twelve month low of $69.18 and a twelve month high of $104.25.
Dolby Laboratories (NYSE:DLB – Get Rating) last issued its earnings results on Thursday, May 5th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.60 by $0.10. The company had revenue of $334.37 million during the quarter, compared to analysts’ expectations of $332.51 million. Dolby Laboratories had a net margin of 17.14% and a return on equity of 9.72%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 EPS. On average, equities analysts forecast that Dolby Laboratories, Inc. will post 2.46 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 25th. Stockholders of record on Tuesday, May 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Monday, May 16th. Dolby Laboratories’s payout ratio is currently 48.31%.
In related news, SVP John D. Couling sold 500 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $72.61, for a total transaction of $36,305.00. Following the sale, the senior vice president now directly owns 80,172 shares of the company’s stock, valued at approximately $5,821,288.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Todd Pendleton sold 45,800 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $75.39, for a total transaction of $3,452,862.00. Following the sale, the chief marketing officer now directly owns 37,788 shares in the company, valued at $2,848,837.32. The disclosure for this sale can be found here. 37.06% of the stock is currently owned by insiders.
About Dolby Laboratories (Get Rating)
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV, transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications.; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and a range of media devices.
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