Hennion & Walsh Asset Management Inc. Decreases Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Hennion & Walsh Asset Management Inc. decreased its holdings in Dolby Laboratories, Inc. (NYSE:DLBFree Report) by 17.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 11,259 shares of the electronics maker’s stock after selling 2,404 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Dolby Laboratories were worth $943,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in shares of Dolby Laboratories by 1.3% during 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. NEOS Investment Management LLC boosted its position in shares of Dolby Laboratories by 5.0% in the fourth quarter. NEOS Investment Management LLC now owns 2,709 shares of the electronics maker’s stock worth $233,000 after buying an additional 129 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of Dolby Laboratories by 0.5% in the third 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 during the period. Finally, Whittier Trust Co. lifted its position in Dolby Laboratories by 5.1% during the 4th quarter. Whittier Trust Co. now owns 3,223 shares of the electronics maker’s stock worth $278,000 after acquiring an additional 156 shares in the last quarter. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a research note on Friday, June 7th. Barrington Research upgraded shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Monday, June 3rd. Finally, StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, May 11th.

Read Our Latest Research Report on DLB

Insider Activity at Dolby Laboratories

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

Dolby Laboratories Trading Up 1.3 %

Shares of NYSE:DLB opened at $80.24 on Tuesday. Dolby Laboratories, Inc. has a 12-month low of $75.87 and a 12-month high of $91.01. The firm has a market cap of $7.69 billion, a PE ratio of 40.94 and a beta of 0.99. The company has a fifty day simple moving average of $80.24 and a 200 day simple moving average of $81.91.

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

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. Dolby Laboratories’s dividend payout ratio (DPR) is 61.22%.

Dolby Laboratories Company Profile

(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.

See Also

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

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