Pacer Advisors Inc. Has $1.42 Million Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Pacer Advisors Inc. boosted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLBFree Report) by 115.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,418 shares of the electronics maker’s stock after buying an additional 8,798 shares during the quarter. Pacer Advisors Inc.’s holdings in Dolby Laboratories were worth $1,415,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Quarry LP boosted its holdings in Dolby Laboratories by 248.2% during the second quarter. Quarry LP now owns 296 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 211 shares during the period. VisionPoint Advisory Group LLC boosted its holdings in Dolby Laboratories by 86.9% during the third quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 172 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Dolby Laboratories by 52.7% during the first quarter. Tower Research Capital LLC TRC now owns 400 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 138 shares during the period. Fifth Third Bancorp boosted its holdings in Dolby Laboratories by 175.3% during the third quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 284 shares during the period. Finally, Zions Bancorporation N.A. bought a new stake in Dolby Laboratories during the first quarter valued at about $42,000. 58.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DLB shares. Rosenblatt Securities restated a “buy” rating and set a $98.00 price target on shares of Dolby Laboratories in a report on Wednesday, January 31st. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd.

View Our Latest Stock Analysis on DLB

Dolby Laboratories Stock Performance

NYSE DLB opened at $83.77 on Monday. The firm has a 50-day simple moving average of $82.08 and a 200 day simple moving average of $83.32. Dolby Laboratories, Inc. has a twelve month low of $75.87 and a twelve month high of $91.01. The stock has a market cap of $8.01 billion, a PE ratio of 43.40 and a beta of 0.97.

Dolby Laboratories (NYSE:DLBGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.14. The firm had revenue of $315.57 million during the quarter, compared to analysts’ expectations of $310.98 million. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. Research analysts forecast that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Monday, February 12th. Dolby Laboratories’s dividend payout ratio is 62.18%.

Insiders Place Their Bets

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 9,030 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $83.51, for a total transaction of $754,095.30. Following the completion of the transaction, the chief executive officer now owns 83,721 shares in the company, valued at $6,991,540.71. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP John D. Couling sold 33,560 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the completion of the sale, the senior vice president now owns 108,519 shares of the company’s stock, valued at $8,769,420.39. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kevin J. Yeaman sold 9,030 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $83.51, for a total transaction of $754,095.30. Following the sale, the chief executive officer now directly owns 83,721 shares of the company’s stock, valued at approximately $6,991,540.71. The disclosure for this sale can be found here. Corporate insiders own 39.54% of the company’s stock.

Dolby Laboratories Company Profile

(Free Report)

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. 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.

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

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