Louisiana State Employees Retirement System Purchases New Position in Dolby Laboratories, Inc. (NYSE:DLB)

Louisiana State Employees Retirement System purchased a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 16,700 shares of the electronics maker’s stock, valued at approximately $1,439,000.

Other hedge funds also recently bought and sold shares of the company. Quarry LP increased its holdings in Dolby Laboratories by 248.2% during the 2nd quarter. Quarry LP now owns 296 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 211 shares during the period. VisionPoint Advisory Group LLC increased its holdings in Dolby Laboratories by 86.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 172 shares during the period. Blue Trust Inc. increased its holdings in Dolby Laboratories by 75.7% during the 4th quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 159 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Dolby Laboratories by 52.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 400 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 138 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of Dolby Laboratories by 175.3% during the 3rd quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 284 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 target price 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 Buying and Selling

In related news, SVP John D. Couling sold 33,560 shares of the company’s 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 sale, 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 Securities & Exchange Commission, which is accessible through this link. 39.54% of the stock is currently owned by company insiders.

Dolby Laboratories Stock Performance

DLB stock opened at $78.18 on Friday. Dolby Laboratories, Inc. has a fifty-two week low of $75.87 and a fifty-two week high of $91.01. The business’s 50 day moving average price is $81.57 and its two-hundred day moving average price is $83.35. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 40.51 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last posted its 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 firm had revenue of $315.57 million for the quarter, compared to the consensus estimate of $310.98 million. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. Sell-side analysts forecast that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were paid a $0.30 dividend. The ex-dividend date was Monday, February 12th. This represents a $1.20 annualized dividend and a dividend yield of 1.53%. 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.