Cwm LLC Has $40,000 Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Cwm LLC lowered its stake in Dolby Laboratories, Inc. (NYSE:DLBGet Rating) by 87.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 616 shares of the electronics maker’s stock after selling 4,158 shares during the period. Cwm LLC’s holdings in Dolby Laboratories were worth $40,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of DLB. Venture Visionary Partners LLC bought a new stake in Dolby Laboratories in the 2nd quarter valued at about $57,000. Trexquant Investment LP bought a new stake in Dolby Laboratories in the 2nd quarter valued at about $1,102,000. Truist Financial Corp boosted its holdings in Dolby Laboratories by 474.3% in the 2nd quarter. Truist Financial Corp now owns 42,352 shares of the electronics maker’s stock valued at $3,031,000 after purchasing an additional 34,977 shares during the period. Mayflower Financial Advisors LLC bought a new stake in Dolby Laboratories in the 3rd quarter valued at about $276,000. Finally, Wells Fargo & Company MN boosted its holdings in Dolby Laboratories by 58.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,077,995 shares of the electronics maker’s stock valued at $77,142,000 after purchasing an additional 397,471 shares during the period. Institutional investors and hedge funds own 82.30% of the company’s stock.

Dolby Laboratories Price Performance

Shares of NYSE:DLB opened at $78.29 on Friday. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 43.49, a PEG ratio of 1.98 and a beta of 0.98. The firm has a 50 day simple moving average of $72.27 and a 200 day simple moving average of $71.95. Dolby Laboratories, Inc. has a one year low of $61.55 and a one year high of $88.59.

Dolby Laboratories (NYSE:DLBGet Rating) last issued its quarterly earnings data on Thursday, November 17th. The electronics maker reported $0.33 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.14). The company had revenue of $278.20 million during the quarter, compared to the consensus estimate of $303.58 million. Dolby Laboratories had a net margin of 14.68% and a return on equity of 9.19%. As a group, analysts expect that Dolby Laboratories, Inc. will post 2.39 EPS for the current year.

Dolby Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 8th. Shareholders of record on Wednesday, November 30th were given a $0.27 dividend. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Tuesday, November 29th. Dolby Laboratories’s dividend payout ratio is 60.00%.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,334 shares of the company’s stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $70.66, for a total value of $164,920.44. Following the completion of the transaction, the executive vice president now directly owns 67,107 shares in the company, valued at approximately $4,741,780.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 39.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Barrington Research downgraded shares of Dolby Laboratories from an “outperform” rating to a “market perform” rating in a report on Friday, November 18th. StockNews.com downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Monday, November 21st. Tigress Financial cut their price target on shares of Dolby Laboratories from $128.00 to $116.00 and set a “buy” rating for the company in a report on Friday, October 14th. Finally, Rosenblatt Securities cut their price target on shares of Dolby Laboratories from $90.00 to $85.00 and set a “buy” rating for the company in a report on Monday, November 7th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.00.

About Dolby Laboratories

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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, 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.

See Also

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

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