Handelsbanken Fonder AB lifted its holdings in Dolby Laboratories, Inc. (NYSE:DLB – Free Report) by 58.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,516 shares of the electronics maker’s stock after acquiring an additional 3,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Dolby Laboratories were worth $813,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in DLB. Signet Financial Management LLC lifted its stake in shares of Dolby Laboratories by 2.2% in the first quarter. Signet Financial Management LLC now owns 5,879 shares of the electronics maker’s stock worth $502,000 after buying an additional 129 shares in the last quarter. Quilter Plc raised its stake in Dolby Laboratories by 0.3% during the fourth quarter. Quilter Plc now owns 42,297 shares of the electronics maker’s stock worth $2,984,000 after purchasing an additional 137 shares during the period. Ronald Blue Trust Inc. raised its stake in Dolby Laboratories by 40.9% during the fourth quarter. Ronald Blue Trust Inc. now owns 527 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 153 shares during the period. Great West Life Assurance Co. Can raised its stake in Dolby Laboratories by 3.4% during the first quarter. Great West Life Assurance Co. Can now owns 4,954 shares of the electronics maker’s stock worth $409,000 after purchasing an additional 164 shares during the period. Finally, Captrust Financial Advisors raised its stake in Dolby Laboratories by 3.4% during the second quarter. Captrust Financial Advisors now owns 5,071 shares of the electronics maker’s stock worth $363,000 after purchasing an additional 167 shares during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.
Insider Activity at Dolby Laboratories
In related news, CEO Kevin J. Yeaman sold 9,030 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $83.65, for a total value of $755,359.50. Following the completion of the transaction, the chief executive officer now owns 51,879 shares in the company, valued at $4,339,678.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Kevin J. Yeaman sold 9,030 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $83.65, for a total value of $755,359.50. Following the completion of the transaction, the chief executive officer now owns 51,879 shares in the company, valued at $4,339,678.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin J. Yeaman sold 27,090 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $84.83, for a total transaction of $2,298,044.70. Following the completion of the transaction, the chief executive officer now owns 51,879 shares of the company’s stock, valued at approximately $4,400,895.57. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,548 shares of company stock worth $10,308,580. Corporate insiders own 39.25% of the company’s stock.
Dolby Laboratories Price Performance
Dolby Laboratories (NYSE:DLB – Get Free Report) last announced its quarterly earnings results on Thursday, May 4th. The electronics maker reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. Dolby Laboratories had a net margin of 18.96% and a return on equity of 10.81%. The business had revenue of $375.89 million during the quarter, compared to analysts’ expectations of $346.95 million. As a group, sell-side analysts expect that Dolby Laboratories, Inc. will post 2.5 earnings per share for the current fiscal year.
Dolby Laboratories Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 23rd. Investors of record on Tuesday, May 16th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, May 15th. Dolby Laboratories’s dividend payout ratio (DPR) is currently 43.72%.
Analyst Ratings Changes
A number of brokerages have commented on DLB. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 26th. Tigress Financial reaffirmed a “buy” rating and set a $116.00 target price on shares of Dolby Laboratories in a research note on Friday, April 14th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Dolby Laboratories presently has an average rating of “Moderate Buy” and an average target price of $103.00.
About Dolby Laboratories
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 various media devices.
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