Raymond James Trust N.A. reduced its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,979 shares of the electronics maker’s stock after selling 344 shares during the period. Raymond James Trust N.A.’s holdings in Dolby Laboratories were worth $205,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Disciplined Growth Investors Inc. MN grew its holdings in Dolby Laboratories by 26.9% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,762,765 shares of the electronics maker’s stock worth $113,945,000 after acquiring an additional 374,081 shares during the period. Mackenzie Financial Corp grew its holdings in Dolby Laboratories by 53.7% during the 2nd quarter. Mackenzie Financial Corp now owns 1,644,535 shares of the electronics maker’s stock worth $106,237,000 after acquiring an additional 574,300 shares during the period. Schroder Investment Management Group grew its holdings in Dolby Laboratories by 8.4% during the 2nd quarter. Schroder Investment Management Group now owns 1,162,024 shares of the electronics maker’s stock worth $75,067,000 after acquiring an additional 89,818 shares during the period. Invesco Ltd. grew its holdings in Dolby Laboratories by 1,445.8% during the 2nd quarter. Invesco Ltd. now owns 861,129 shares of the electronics maker’s stock worth $55,629,000 after acquiring an additional 805,420 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in Dolby Laboratories during the 2nd quarter worth about $41,052,000. Hedge funds and other institutional investors own 58.43% of the company’s stock.
In related news, CEO Kevin J. Yeaman sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $67.50, for a total value of $2,025,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Lewis Chew sold 32,185 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $69.21, for a total transaction of $2,227,523.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,482 shares of company stock worth $17,274,586. 38.17% of the stock is owned by insiders.
A number of equities analysts have recently issued reports on DLB shares. Dougherty & Co reissued a “buy” rating on shares of Dolby Laboratories in a research report on Monday, November 11th. B. Riley cut shares of Dolby Laboratories from a “buy” rating to a “neutral” rating and set a $73.00 price objective on the stock. in a research report on Friday, January 10th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Dolby Laboratories from a “hold” rating to a “sell” rating and set a $73.00 price objective on the stock. in a research report on Monday, November 18th. Barrington Research reissued a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a research report on Thursday, November 21st. Finally, ValuEngine cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, December 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Dolby Laboratories currently has a consensus rating of “Hold” and an average target price of $77.00.
DLB stock opened at $69.25 on Tuesday. The stock has a market capitalization of $6.94 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 1.86 and a beta of 0.83. The company’s 50-day moving average is $68.36 and its 200-day moving average is $65.02. Dolby Laboratories, Inc. has a 1 year low of $56.09 and a 1 year high of $70.17.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Thursday, November 14th. The electronics maker reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.05). The company had revenue of $298.80 million for the quarter, compared to the consensus estimate of $297.55 million. Dolby Laboratories had a return on equity of 9.37% and a net margin of 20.56%. Dolby Laboratories’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. As a group, research analysts forecast that Dolby Laboratories, Inc. will post 2.87 EPS for the current year.
Dolby Laboratories Profile
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.
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