GAMMA Investing LLC Grows Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

GAMMA Investing LLC raised its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 13,226.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,680 shares of the electronics maker’s stock after acquiring an additional 102,902 shares during the quarter. GAMMA Investing LLC owned approximately 0.11% of Dolby Laboratories worth $8,327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. 111 Capital purchased a new stake in shares of Dolby Laboratories during the 4th quarter valued at approximately $639,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Dolby Laboratories by 6.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,657 shares of the electronics maker’s stock valued at $442,000 after buying an additional 331 shares in the last quarter. Vise Technologies Inc. purchased a new stake in shares of Dolby Laboratories during the 4th quarter valued at approximately $308,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Dolby Laboratories by 3.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 225,618 shares of the electronics maker’s stock valued at $17,621,000 after buying an additional 6,640 shares in the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Dolby Laboratories by 247.2% during the 4th quarter. Squarepoint Ops LLC now owns 191,675 shares of the electronics maker’s stock worth $14,970,000 after acquiring an additional 136,465 shares during the period. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Up 0.7%

Dolby Laboratories stock opened at $74.96 on Monday. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 27.56 and a beta of 0.93. The firm’s fifty day moving average is $74.71 and its 200 day moving average is $78.60. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.05. The company had revenue of $369.56 million for the quarter, compared to the consensus estimate of $375.44 million. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. Dolby Laboratories’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 earnings per share. On average, equities research analysts anticipate that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 13th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Tuesday, May 13th. Dolby Laboratories’s dividend payout ratio (DPR) is 49.81%.

Analysts Set New Price Targets

Several equities analysts have recently commented on DLB shares. Barrington Research reissued an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Friday, May 2nd. Wall Street Zen raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Tigress Financial started coverage on shares of Dolby Laboratories in a report on Thursday, May 15th. They issued a “buy” rating and a $112.00 target price on the stock. Finally, Rosenblatt Securities lowered their target price on shares of Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, May 2nd.

Insider Buying and Selling at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $75.02, for a total value of $1,125,300.00. Following the transaction, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $4,681,022.94. This represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John D. Couling sold 675 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $75.04, for a total transaction of $50,652.00. Following the completion of the transaction, the senior vice president now owns 121,151 shares in the company, valued at approximately $9,091,171.04. The trade was a 0.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 38.39% of the company’s stock.

Dolby Laboratories 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.