Cerity Partners LLC Grows Position in Dolby Laboratories, Inc. (NYSE:DLB)

Cerity Partners LLC raised its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 20.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,656 shares of the electronics maker’s stock after acquiring an additional 630 shares during the period. Cerity Partners LLC’s holdings in Dolby Laboratories were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in shares of Dolby Laboratories by 1.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,517 shares of the electronics maker’s stock valued at $754,000 after acquiring an additional 118 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Dolby Laboratories by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 26,817 shares of the electronics maker’s stock valued at $2,126,000 after buying an additional 133 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Dolby Laboratories by 1.4% during the 4th quarter. Bleakley Financial Group LLC now owns 9,444 shares of the electronics maker’s stock valued at $814,000 after buying an additional 134 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Dolby Laboratories by 0.8% during the 3rd quarter. Arizona State Retirement System now owns 16,918 shares of the electronics maker’s stock valued at $1,341,000 after buying an additional 139 shares in the last quarter. Finally, Whittier Trust Co. raised its holdings in shares of Dolby Laboratories by 5.1% during the 4th quarter. Whittier Trust Co. now owns 3,223 shares of the electronics maker’s stock valued at $278,000 after buying an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $98.00 price objective 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 Transactions at Dolby Laboratories

In other news, SVP John D. Couling sold 33,560 shares of Dolby Laboratories 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 directly owns 108,519 shares in the company, valued at approximately $8,769,420.39. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 39.54% of the company’s stock.

Dolby Laboratories Price Performance

DLB opened at $79.20 on Friday. The stock’s 50 day simple moving average is $81.62 and its 200 day simple moving average is $83.31. Dolby Laboratories, Inc. has a 1 year low of $75.87 and a 1 year high of $91.01. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 41.04 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, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $310.98 million. As a group, sell-side analysts anticipate that Dolby Laboratories, Inc. will post 2.6 EPS for the current year.

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Tuesday, February 13th were given a $0.30 dividend. 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 1.52%. Dolby Laboratories’s dividend payout ratio is currently 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.