Numerai GP LLC Acquires 1,673 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Numerai GP LLC lifted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 6.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 28,326 shares of the electronics maker’s stock after acquiring an additional 1,673 shares during the period. Numerai GP LLC’s holdings in Dolby Laboratories were worth $2,212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Fifth Third Bancorp boosted its stake in Dolby Laboratories by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 163 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 301 shares during the period. Mather Group LLC. boosted its position in shares of Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after purchasing an additional 142 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Dolby Laboratories during the fourth quarter worth $57,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Dolby Laboratories in the fourth quarter valued at about $71,000. 58.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DLB shares. Rosenblatt Securities reduced their target price on Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Barrington Research reiterated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Friday, May 2nd. Finally, StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st.

Dolby Laboratories Stock Down 0.2%

DLB opened at $77.57 on Wednesday. The stock has a market cap of $7.40 billion, a P/E ratio of 28.52 and a beta of 0.95. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.66. The company has a fifty day simple moving average of $76.88 and a 200 day simple moving average of $78.44.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.05. The company had revenue of $369.56 million during the quarter, compared to the consensus estimate of $375.44 million. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 earnings per share. On average, equities research analysts expect that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.32 dividend on an annualized basis and a yield of 1.70%. Dolby Laboratories’s payout ratio is 49.81%.

Insiders Place Their Bets

In other Dolby Laboratories news, CMO Todd Pendleton sold 18,121 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. This represents a 32.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John D. Couling sold 675 shares of Dolby Laboratories stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $75.04, for a total value of $50,652.00. Following the completion of the sale, the senior vice president now directly owns 121,151 shares in the company, valued at $9,091,171.04. This represents a 0.55% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 38.39% of the company’s stock.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. 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.