State Board of Administration of Florida Retirement System Grows Position in Dolby Laboratories, Inc. (NYSE:DLB)

State Board of Administration of Florida Retirement System increased its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 19.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 77,844 shares of the electronics maker’s stock after buying an additional 12,541 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of Dolby Laboratories worth $6,649,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DLB. Morgan Stanley increased its stake in shares of Dolby Laboratories by 577.7% during the fourth quarter. Morgan Stanley now owns 4,365,832 shares of the electronics maker’s stock worth $307,966,000 after buying an additional 3,721,613 shares during the period. First Trust Advisors LP increased its stake in shares of Dolby Laboratories by 320.2% during the first quarter. First Trust Advisors LP now owns 1,081,747 shares of the electronics maker’s stock worth $84,614,000 after buying an additional 824,296 shares during the period. Norges Bank purchased a new stake in shares of Dolby Laboratories during the fourth quarter worth approximately $38,977,000. Acadian Asset Management LLC increased its stake in Dolby Laboratories by 37.9% in the first quarter. Acadian Asset Management LLC now owns 1,040,929 shares of the electronics maker’s stock valued at $88,900,000 after purchasing an additional 286,320 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in Dolby Laboratories by 400.6% in the first quarter. Balyasny Asset Management L.P. now owns 249,980 shares of the electronics maker’s stock valued at $21,353,000 after purchasing an additional 200,039 shares during the last quarter. 56.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DLB has been the topic of several recent analyst reports. Rosenblatt Securities increased their price target on shares of Dolby Laboratories from $93.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, August 4th. StockNews.com lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, TheStreet lowered shares of Dolby Laboratories from a “b” rating to a “c+” rating in a research note on Friday, August 4th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Dolby Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $107.00.

Dolby Laboratories Trading Up 0.9 %

DLB stock opened at $82.47 on Tuesday. The company has a market capitalization of $7.89 billion, a P/E ratio of 36.65 and a beta of 0.98. Dolby Laboratories, Inc. has a twelve month low of $61.55 and a twelve month high of $91.01. The business has a 50 day simple moving average of $84.36 and a 200-day simple moving average of $83.74.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, August 3rd. The electronics maker reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03. Dolby Laboratories had a return on equity of 10.44% and a net margin of 17.03%. The firm had revenue of $298.37 million during the quarter, compared to the consensus estimate of $300.45 million. Research analysts predict that Dolby Laboratories, Inc. will post 2.46 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 22nd. Investors of record on Monday, August 14th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, August 11th. Dolby Laboratories’s dividend payout ratio is presently 48.00%.

Insider Buying and Selling

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 18,060 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $87.83, for a total value of $1,586,209.80. Following the completion of the transaction, the chief executive officer now owns 51,879 shares in the company, valued at $4,556,532.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 18,060 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $87.83, for a total value of $1,586,209.80. Following the completion of the transaction, the chief executive officer now owns 51,879 shares in the company, valued at $4,556,532.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Todd Pendleton sold 6,889 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $84.41, for a total value of $581,500.49. Following the completion of the transaction, the chief marketing officer now owns 36,976 shares of the company’s stock, valued at approximately $3,121,144.16. The disclosure for this sale can be found here. Insiders sold a total of 91,099 shares of company stock valued at $7,966,927 over the last three months. 39.25% of the stock is currently owned by company insiders.

Dolby Laboratories Company Profile

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.