State Street Corp decreased its position in Dolby Laboratories, Inc. (NYSE: DLB – Get Rating) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,029,117 shares of the electronics maker’s stock after selling 32,114 shares during the period. State Street Corp owned 1.02% of Dolby Laboratories worth $ 97,993,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the business. Atlanta Capital Management Co. LLC increased its stake in Dolby Laboratories by 7.9% in the 4th quarter. Atlanta Capital Management Co. LLC now owns 3,525,296 shares of the electronics maker’s stock valued at $ 335,679,000 after buying an additional 257,199 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Dolby Laboratories by 35.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,308,241 shares of the electronics maker’s stock valued at $ 115,128,000 after buying an additional 339,994 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Dolby Laboratories by 86.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,137,095 shares of the electronics maker’s stock valued at $ 108,274,000 after buying an additional 526,811 shares during the last quarter. Ceredex Value Advisors LLC increased its stake in Dolby Laboratories by 1.4% in the 4th quarter. Ceredex Value Advisors LLC now owns 998,833 shares of the electronics maker’s stock valued at $ 95,109,000 after buying an additional 14,060 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Dolby Laboratories by 60.5% during the 4th quarter. Schroder Investment Management Group now owns 971,831 shares of the electronics maker’s stock valued at $ 92,538,000 after acquiring an additional 366,304 shares during the period. Hedge funds and other institutional investors own 59.34% of the company stock.
DLB opened at $ 74.26 on Friday. The company has a 50 day moving average of $ 76.52 and a 200 day moving average of $ 80.89. The company has a market cap of $ 7.49 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 1.96 and a beta of 0.99. Dolby Laboratories, Inc. has a 12 month low of $ 69.18 and a 12 month high of $ 104.25.
Dolby Laboratories (NYSE: DLB – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The electronics maker reported $ 0.70 EPS for the quarter, topping the consensus estimate of $ 0.60 by $ 0.10. The company had revenue of $ 334.37 million during the quarter, compared to the consensus estimate of $ 332.51 million. Dolby Laboratories had a net margin of 17.14% and a return on equity of 9.72%. Dolby Laboratories’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $ 0.73 EPS. As a group, equities analysts anticipate that Dolby Laboratories, Inc. will post 2.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 25th. Investors of record on Tuesday, May 17th were issued a $ 0.25 dividend. This represents a $ 1.00 annualized dividend and a yield of 1.35%. The ex-dividend date was Monday, May 16th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.31%.
DLB has been the subject of a number of research reports. Barrington Research reduced their target price on shares of Dolby Laboratories from $ 115.00 to $ 90.00 in a research report on Thursday, May 12th. TheStreet raised shares of Dolby Laboratories from a “c +” rating to a “b-” rating in a research report on Friday, April 22nd. Rosenblatt Securities initiated coverage on shares of Dolby Laboratories in a research report on Monday, May 23rd. They set a “buy” rating and a $ 90.00 target price for the company. Finally, StockNews.com raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $ 90.00.
In other Dolby Laboratories news, SVP John D. Couling sold 500 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $ 72.61, for a total value of $ 36,305.00. Following the completion of the transaction, the senior vice president now directly owns 80,172 shares of the company stock, valued at approximately $ 5,821,288.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Todd Pendleton sold 45,800 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief marketing officer now directly owns 37,788 shares of the company stock, valued at $ 2,848,837.32. The disclosure for this sale can be found here. 37.06% of the stock is currently owned by company insiders.
Dolby Laboratories Company Profile: (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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