Raymond James Financial Services Advisors Inc. Boosts Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Raymond James Financial Services Advisors Inc. raised its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 20.6% during the 4th quarter, Holdings Channel reports. The firm owned 15,675 shares of the electronics maker’s stock after buying an additional 2,681 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Dolby Laboratories were worth $1,351,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in shares of Dolby Laboratories by 1.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,517 shares of the electronics maker’s stock worth $754,000 after buying an additional 118 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Dolby Laboratories by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 5,970 shares of the electronics maker’s stock worth $510,000 after purchasing an additional 128 shares during the period. Cerity Partners LLC raised its holdings in Dolby Laboratories by 3.7% in the 2nd quarter. Cerity Partners LLC now owns 3,652 shares of the electronics maker’s stock worth $306,000 after purchasing an additional 130 shares during the period. Treasurer of the State of North Carolina raised its holdings in Dolby Laboratories by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 26,817 shares of the electronics maker’s stock worth $2,126,000 after purchasing an additional 133 shares during the period. Finally, Horizon Investments LLC raised its holdings in Dolby Laboratories by 19.4% in the 2nd quarter. Horizon Investments LLC now owns 831 shares of the electronics maker’s stock worth $70,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DLB. Rosenblatt Securities reaffirmed a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a report on Wednesday, January 31st. StockNews.com raised Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Friday, February 2nd.

Insider Activity at Dolby Laboratories

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

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock opened at $80.25 on Friday. The business has a 50 day simple moving average of $81.71 and a two-hundred day simple moving average of $83.35. Dolby Laboratories, Inc. has a 12 month low of $75.87 and a 12 month high of $91.01. The stock has a market capitalization of $7.67 billion, a P/E ratio of 41.58 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.14. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. The business had revenue of $315.57 million during the quarter, compared to analysts’ expectations of $310.98 million. As a group, research analysts anticipate that Dolby Laboratories, Inc. will post 2.63 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. Dolby Laboratories’s dividend payout ratio is presently 62.18%.

About Dolby Laboratories

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.