Atria Investments Inc Has $1.15 Million Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Posted by Defense World Staff on Apr 21st, 2023

Atria Investments Inc grew its stake in Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,292 shares of the electronics maker’s stock after buying an additional 727 shares during the quarter. Atria Investments Inc’s holdings in Dolby Laboratories were worth $1,149,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Dolby Laboratories by 1.6% in the first quarter. Vanguard Group Inc. now owns 6,257,157 shares of the electronics maker’s stock valued at $489,435,000 after buying an additional 99,453 shares during the period. State Street Corp lifted its position in shares of Dolby Laboratories by 3.3% in the second quarter. State Street Corp now owns 1,100,832 shares of the electronics maker’s stock worth $78,776,000 after purchasing an additional 34,834 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Dolby Laboratories by 320.2% in the first quarter. First Trust Advisors LP now owns 1,081,747 shares of the electronics maker’s stock worth $84,614,000 after purchasing an additional 824,296 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Dolby Laboratories by 7.4% in the first quarter. Lazard Asset Management LLC now owns 748,067 shares of the electronics maker’s stock worth $58,513,000 after purchasing an additional 51,779 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Dolby Laboratories by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 637,528 shares of the electronics maker’s stock worth $41,535,000 after purchasing an additional 25,742 shares in the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DLB shares. TheStreet raised shares of Dolby Laboratories from a “c” rating to a “b” rating in a research report on Friday, February 3rd. StockNews.com initiated coverage on shares of Dolby Laboratories in a research report on Thursday, March 16th. They issued a “buy” rating on the stock. Rosenblatt Securities upped their price target on shares of Dolby Laboratories from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Finally, Tigress Financial reaffirmed a “buy” rating and set a $116.00 price target on shares of Dolby Laboratories in a research report on Friday, April 14th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.67.

Dolby Laboratories Trading Down 0.4 %

NYSE DLB opened at $85.03 on Friday. The firm’s fifty day moving average price is $83.33 and its two-hundred day moving average price is $75.74. Dolby Laboratories, Inc. has a 1 year low of $61.55 and a 1 year high of $88.06. The firm has a market capitalization of $8.15 billion, a P/E ratio of 45.96, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01.

Dolby Laboratories (NYSE:DLB – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The electronics maker reported $0.83 EPS for the quarter, beating the consensus estimate of $0.52 by $0.31. Dolby Laboratories had a net margin of 14.83% and a return on equity of 9.46%. The firm had revenue of $334.92 million for the quarter, compared to the consensus estimate of $305.12 million. On average, research analysts anticipate that Dolby Laboratories, Inc. will post 2.41 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 22nd. Shareholders of record on Tuesday, February 14th were issued a $0.27 dividend. The ex-dividend date was Monday, February 13th. This represents a $1.08 annualized dividend and a dividend yield of 1.27%. Dolby Laboratories’s dividend payout ratio is currently 58.38%.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, VP Ryan Nicholson sold 6,979 shares of the company’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $84.56, for a total value of $590,144.24. Following the transaction, the vice president now directly owns 19,013 shares in the company, valued at $1,607,739.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Ryan Nicholson sold 6,979 shares of the company’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $84.56, for a total value of $590,144.24. Following the transaction, the vice president now directly owns 19,013 shares in the company, valued at $1,607,739.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Andrew Sherman sold 12,000 shares of the company’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $85.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the executive vice president now owns 58,787 shares in the company, valued at $4,996,895. The disclosure for this sale can be found here. Insiders have sold a total of 179,313 shares of company stock worth $15,046,595 over the last ninety days. Insiders own 39.25% of the company’s stock.

About Dolby Laboratories

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Dolby Laboratories, Inc engages in the provision of audio and imaging technologies. It transforms entertainment and communications for content playback in movies, television, music, and gaming. Its products include Cinema Imaging Products, Cinema Audio Products, and other products such as 3-D kits, broadcast hardware and software, monitors, and solutions for hearing impaired consumers.