Shell Asset Management Co. Sells 635 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Shell Asset Management Co. lessened its position in Dolby Laboratories, Inc. (NYSE:DLBGet Rating) by 12.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,291 shares of the electronics maker’s stock after selling 635 shares during the quarter. Shell Asset Management Co.’s holdings in Dolby Laboratories were worth $336,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new stake in Dolby Laboratories during the 1st quarter valued at about $31,000. Alaska Permanent Fund Corp lifted its holdings in Dolby Laboratories by 1,082.7% during the 1st quarter. Alaska Permanent Fund Corp now owns 887 shares of the electronics maker’s stock valued at $69,000 after buying an additional 812 shares in the last quarter. Covestor Ltd bought a new stake in Dolby Laboratories during the 4th quarter valued at about $72,000. Steward Partners Investment Advisory LLC lifted its holdings in Dolby Laboratories by 39.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,019 shares of the electronics maker’s stock valued at $80,000 after buying an additional 286 shares in the last quarter. Finally, Column Capital Advisors LLC lifted its holdings in Dolby Laboratories by 28.8% during the 4th quarter. Column Capital Advisors LLC now owns 1,217 shares of the electronics maker’s stock valued at $116,000 after buying an additional 272 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Dolby Laboratories Stock Performance

NYSE DLB opened at $78.43 on Friday. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 37.89, a price-to-earnings-growth ratio of 2.01 and a beta of 0.98. The company’s 50-day simple moving average is $74.59 and its two-hundred day simple moving average is $76.20. Dolby Laboratories, Inc. has a one year low of $69.18 and a one year high of $104.25.

Dolby Laboratories (NYSE:DLBGet Rating) last posted its earnings results on Thursday, May 5th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.10. Dolby Laboratories had a net margin of 17.14% and a return on equity of 9.72%. The business had revenue of $334.37 million for the quarter, compared to the consensus estimate of $332.51 million. During the same quarter last year, the firm posted $0.73 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts expect that Dolby Laboratories, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CMO Todd Pendleton sold 45,800 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $75.39, for a total value of $3,452,862.00. Following the completion of the sale, the chief marketing officer now directly owns 37,788 shares in the company, valued at approximately $2,848,837.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Dolby Laboratories news, CMO Todd Pendleton sold 45,800 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $75.39, for a total transaction of $3,452,862.00. Following the completion of the sale, the chief marketing officer now directly owns 37,788 shares in the company, valued at approximately $2,848,837.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John D. Couling sold 500 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $72.61, for a total transaction of $36,305.00. Following the completion of the transaction, the senior vice president now owns 80,172 shares of the company’s stock, valued at $5,821,288.92. The disclosure for this sale can be found here. 37.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on DLB shares. Rosenblatt Securities started coverage on shares of Dolby Laboratories in a report on Monday, May 23rd. They set a “buy” rating and a $90.00 price objective for the company. Barrington Research decreased their price objective on shares of Dolby Laboratories from $115.00 to $90.00 in a report on Thursday, May 12th. StockNews.com lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Finally, TheStreet downgraded shares of Dolby Laboratories from a “b-” rating to a “c+” rating in a research report on Friday, July 1st. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Dolby Laboratories currently has an average rating of “Moderate Buy” and an average target price of $90.00.

Dolby Laboratories Company Profile

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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, an digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and a range of media devices.

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Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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