Arizona State Retirement System Reduces Position in Dolby Laboratories, Inc. (NYSE:DLB)

Arizona State Retirement System decreased its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,649 shares of the electronics maker’s stock after selling 269 shares during the period. Arizona State Retirement System’s holdings in Dolby Laboratories were worth $1,435,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. WoodTrust Financial Corp purchased a new position in Dolby Laboratories during the fourth quarter worth $215,000. Oak Thistle LLC increased its position in Dolby Laboratories by 2.6% during the fourth quarter. Oak Thistle LLC now owns 13,032 shares of the electronics maker’s stock worth $1,123,000 after buying an additional 334 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Dolby Laboratories by 36.8% during the fourth quarter. Fifth Third Bancorp now owns 610 shares of the electronics maker’s stock worth $53,000 after purchasing an additional 164 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Dolby Laboratories by 75.7% during the fourth quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 159 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Dolby Laboratories by 115.5% during the fourth quarter. Pacer Advisors Inc. now owns 16,418 shares of the electronics maker’s stock worth $1,415,000 after purchasing an additional 8,798 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a report on Wednesday, January 31st. StockNews.com upgraded 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, SVP John D. Couling sold 33,560 shares of Dolby Laboratories stock in a transaction 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 transaction, the senior vice president now owns 108,519 shares in the company, valued at $8,769,420.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the transaction, the senior vice president now owns 108,519 shares in the company, valued at $8,769,420.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kevin J. Yeaman sold 9,030 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $83.51, for a total value of $754,095.30. Following the transaction, the chief executive officer now owns 83,721 shares in the company, valued at approximately $6,991,540.71. The disclosure for this sale can be found here. 39.54% of the stock is owned by insiders.

Dolby Laboratories Trading Down 1.6 %

Shares of Dolby Laboratories stock opened at $80.19 on Friday. Dolby Laboratories, Inc. has a twelve month low of $75.87 and a twelve month high of $91.01. The stock has a market capitalization of $7.66 billion, a P/E ratio of 41.55 and a beta of 0.97. The business’s fifty day moving average price is $81.71 and its 200 day moving average price is $83.38.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share 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 firm had revenue of $315.57 million for the quarter, compared to analysts’ expectations of $310.98 million. As a group, sell-side analysts predict that Dolby Laboratories, Inc. will post 2.63 EPS for the current year.

Dolby Laboratories Announces Dividend

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

Dolby Laboratories Company Profile

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.