LPL Financial LLC grew its position in Dolby Laboratories, Inc. (NYSE:DLB – Free Report) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,136 shares of the electronics maker’s stock after buying an additional 1,168 shares during the period. LPL Financial LLC owned 0.06% of Dolby Laboratories worth $5,051,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in Dolby Laboratories by 13.4% during the fourth quarter. Wells Fargo & Company MN now owns 1,177,003 shares of the electronics maker’s stock worth $83,026,000 after purchasing an additional 139,129 shares during the period. Assetmark Inc. increased its stake in shares of Dolby Laboratories by 50.8% during the fourth quarter. Assetmark Inc. now owns 4,304 shares of the electronics maker’s stock worth $304,000 after buying an additional 1,449 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Dolby Laboratories in the fourth quarter valued at approximately $3,411,000. Linden Thomas Advisory Services LLC lifted its stake in Dolby Laboratories by 27.6% in the first quarter. Linden Thomas Advisory Services LLC now owns 8,109 shares of the electronics maker’s stock worth $693,000 after acquiring an additional 1,754 shares during the last quarter. Finally, Advisor OS LLC grew its holdings in Dolby Laboratories by 6.7% during the 1st quarter. Advisor OS LLC now owns 9,796 shares of the electronics maker’s stock worth $837,000 after acquiring an additional 619 shares in the last quarter. 56.37% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on DLB. StockNews.com cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Rosenblatt Securities increased their price objective on Dolby Laboratories from $93.00 to $98.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, TheStreet downgraded Dolby Laboratories from a “b” rating to a “c+” rating in a report on Friday, August 4th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $107.00.
In related news, CEO Kevin J. Yeaman sold 27,090 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $84.83, for a total value of $2,298,044.70. Following the transaction, the chief executive officer now owns 51,879 shares in the company, valued at approximately $4,400,895.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Kevin J. Yeaman sold 27,090 shares of Dolby Laboratories stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $84.83, for a total value of $2,298,044.70. Following the transaction, the chief executive officer now directly owns 51,879 shares in the company, valued at approximately $4,400,895.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Andrew Sherman sold 21,000 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $89.00, for a total transaction of $1,869,000.00. Following the transaction, the executive vice president now owns 56,730 shares of the company’s stock, valued at approximately $5,048,970. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,240 shares of company stock valued at $8,191,355. Insiders own 39.25% of the company’s stock.
Dolby Laboratories Stock Performance
DLB opened at $85.03 on Friday. Dolby Laboratories, Inc. has a one year low of $61.55 and a one year high of $91.01. The stock has a market capitalization of $8.13 billion, a P/E ratio of 37.79 and a beta of 0.99. The business’s 50-day simple moving average is $84.44 and its 200-day simple moving average is $83.70.
Dolby Laboratories (NYSE:DLB – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The electronics maker reported $0.32 EPS 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 company had revenue of $298.37 million for the quarter, compared to analyst estimates of $300.45 million. On average, equities research analysts forecast that Dolby Laboratories, Inc. will post 2.46 EPS for the current fiscal year.
Dolby Laboratories Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 22nd. Shareholders of record on Monday, August 14th were paid a $0.27 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.08 dividend on an annualized basis and a yield of 1.27%. Dolby Laboratories’s dividend payout ratio is presently 48.00%.
Dolby Laboratories 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.
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