Treasurer of the State of North Carolina Purchases 254 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Treasurer of the State of North Carolina boosted its position in shares of Dolby Laboratories, Inc. (NYSE:DLBFree Report) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,071 shares of the electronics maker’s stock after purchasing an additional 254 shares during the period. Treasurer of the State of North Carolina’s holdings in Dolby Laboratories were worth $2,333,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Dolby Laboratories during the third quarter worth $1,610,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Dolby Laboratories in the 4th quarter valued at about $2,229,000. Everpar Advisors LLC bought a new position in shares of Dolby Laboratories in the fourth quarter worth about $965,000. Envestnet Asset Management Inc. lifted its position in shares of Dolby Laboratories by 64.0% during the third quarter. Envestnet Asset Management Inc. now owns 466,282 shares of the electronics maker’s stock worth $36,958,000 after purchasing an additional 181,904 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Dolby Laboratories by 115.5% in the fourth quarter. Pacer Advisors Inc. now owns 16,418 shares of the electronics maker’s stock valued at $1,415,000 after purchasing an additional 8,798 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Stock Performance

DLB opened at $80.01 on Friday. The company has a fifty day moving average price of $80.92 and a two-hundred day moving average price of $82.94. The firm has a market capitalization of $7.67 billion, a PE ratio of 40.82 and a beta of 0.99. Dolby Laboratories, Inc. has a 52 week low of $75.87 and a 52 week high of $91.01.

Dolby Laboratories (NYSE:DLBGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The electronics maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Dolby Laboratories had a return on equity of 10.15% and a net margin of 15.00%. The business had revenue of $364.52 million during the quarter, compared to analysts’ expectations of $361.98 million. Equities analysts forecast that Dolby Laboratories, Inc. will post 2.68 EPS for the current year.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Monday, May 13th. Dolby Laboratories’s payout ratio is 61.22%.

Wall Street Analyst Weigh In

Several research firms have issued reports on DLB. raised Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, May 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $98.00 price target on shares of Dolby Laboratories in a research note on Monday, April 29th. Finally, Barrington Research upgraded Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a research report on Monday.

Read Our Latest Stock Report on Dolby Laboratories

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total value of $181,772.46. Following the sale, the executive vice president now directly owns 58,325 shares in the company, valued at $4,643,836.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 39.54% of the company’s stock.

About Dolby Laboratories

(Free Report)

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.

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Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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