Strs Ohio Sells 2,750 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Strs Ohio trimmed its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 9.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 25,843 shares of the electronics maker’s stock after selling 2,750 shares during the period. Strs Ohio’s holdings in Dolby Laboratories were worth $2,227,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Quarry LP raised its stake in Dolby Laboratories by 248.2% in the second quarter. Quarry LP now owns 296 shares of the electronics maker’s stock worth $25,000 after buying an additional 211 shares in the last quarter. VisionPoint Advisory Group LLC raised its holdings in shares of Dolby Laboratories by 86.9% in the third quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after buying an additional 172 shares during the last quarter. Blue Trust Inc. lifted its position in Dolby Laboratories by 75.7% during the 4th quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 159 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Dolby Laboratories by 52.7% during the first quarter. Tower Research Capital LLC TRC now owns 400 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 138 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Dolby Laboratories by 175.3% in the 3rd 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 last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 108,519 shares in the company, valued at $8,769,420.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 39.54% of the stock is owned by corporate insiders.

Dolby Laboratories Stock Down 0.1 %

DLB stock opened at $78.19 on Friday. Dolby Laboratories, Inc. has a 52-week low of $75.87 and a 52-week high of $91.01. The firm has a market cap of $7.47 billion, a P/E ratio of 40.51 and a beta of 0.97. The company’s 50-day simple moving average is $81.57 and its 200-day simple moving average is $83.32.

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

Dolby Laboratories Dividend Announcement

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

Analysts Set New Price Targets

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

Dolby Laboratories 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.