Retirement Systems of Alabama Buys 229 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Retirement Systems of Alabama lifted its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,590 shares of the electronics maker’s stock after acquiring an additional 229 shares during the period. Retirement Systems of Alabama’s holdings in Dolby Laboratories were worth $6,428,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DLB. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Dolby Laboratories during the third quarter valued at about $1,610,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Dolby Laboratories during the fourth quarter valued at approximately $2,229,000. Envestnet Asset Management Inc. boosted its stake in Dolby Laboratories by 64.0% in the third quarter. Envestnet Asset Management Inc. now owns 466,282 shares of the electronics maker’s stock valued at $36,958,000 after acquiring an additional 181,904 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Dolby Laboratories by 115.5% in 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. Finally, Amalgamated Bank increased its position in shares of Dolby Laboratories by 331.3% during the third quarter. Amalgamated Bank now owns 41,227 shares of the electronics maker’s stock worth $3,268,000 after purchasing an additional 31,668 shares in the last quarter. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Dolby Laboratories Trading Up 3.0 %

NYSE DLB opened at $82.08 on Friday. Dolby Laboratories, Inc. has a 12-month low of $75.87 and a 12-month high of $91.01. The company has a fifty day simple moving average of $81.65 and a two-hundred day simple moving average of $83.23. The stock has a market cap of $7.85 billion, a P/E ratio of 41.88 and a beta of 0.98.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a return on equity of 10.22% and a net margin of 15.00%. The firm had revenue of $315.57 million for the quarter, compared to the consensus estimate of $310.98 million. As a group, sell-side analysts forecast that Dolby Laboratories, Inc. will post 2.6 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, May 13th. Dolby Laboratories’s payout ratio is 61.22%.

Insider Buying and Selling

In related news, SVP John D. Couling sold 33,560 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were 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 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.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DLB shares. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 price objective on shares of Dolby Laboratories in a research report on Monday, April 29th. StockNews.com downgraded Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Friday.

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.