SG Americas Securities LLC Trims Stake in Dolby Laboratories, Inc. (NYSE:DLB)

SG Americas Securities LLC lowered its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 92.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,809 shares of the electronics maker’s stock after selling 21,043 shares during the period. SG Americas Securities LLC’s holdings in Dolby Laboratories were worth $156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Whittier Trust Co. raised its position in Dolby Laboratories by 5.1% in the fourth quarter. Whittier Trust Co. now owns 3,223 shares of the electronics maker’s stock valued at $278,000 after purchasing an additional 156 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Dolby Laboratories in the fourth quarter valued at $2,229,000. First Affirmative Financial Network purchased a new stake in Dolby Laboratories in the fourth quarter valued at $223,000. Exchange Traded Concepts LLC raised its position in Dolby Laboratories by 24.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,391 shares of the electronics maker’s stock valued at $292,000 after purchasing an additional 666 shares during the period. Finally, Vanguard Group Inc. raised its position in Dolby Laboratories by 3.3% in the third quarter. Vanguard Group Inc. now owns 6,389,084 shares of the electronics maker’s stock valued at $506,399,000 after purchasing an additional 205,319 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Analyst Ratings Changes

DLB has been the topic of several research reports. Rosenblatt Securities reissued a “buy” rating and set a $98.00 target price on shares of Dolby Laboratories in a research note on Wednesday, January 31st. StockNews.com raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd.

Dolby Laboratories Trading Down 2.0 %

DLB opened at $78.61 on Tuesday. The stock’s 50-day moving average price is $81.71 and its 200 day moving average price is $83.41. Dolby Laboratories, Inc. has a 12-month low of $75.87 and a 12-month high of $91.01. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 40.73 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.14. The company had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.98 million. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. On average, research analysts forecast that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Monday, February 12th. Dolby Laboratories’s dividend payout ratio is currently 62.18%.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 9,030 shares of the 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 sale, the chief executive officer now owns 83,721 shares of the company’s stock, valued at approximately $6,991,540.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP John D. Couling sold 33,560 shares of the stock in a transaction dated 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 approximately $8,769,420.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin J. Yeaman sold 9,030 shares of the stock in a transaction dated Wednesday, January 17th. The shares were 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 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 corporate insiders.

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.