Dolby Laboratories, Inc. (NYSE:DLB) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 6.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,657 shares of the electronics maker’s stock after buying an additional 331 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Dolby Laboratories were worth $442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Dolby Laboratories by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker’s stock worth $549,325,000 after purchasing an additional 68,771 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Dolby Laboratories by 64.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock worth $376,948,000 after buying an additional 1,887,518 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Dolby Laboratories by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 901,707 shares of the electronics maker’s stock worth $70,424,000 after buying an additional 31,164 shares during the period. First Trust Advisors LP lifted its stake in Dolby Laboratories by 0.9% in the fourth quarter. First Trust Advisors LP now owns 794,772 shares of the electronics maker’s stock valued at $62,072,000 after buying an additional 7,265 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Dolby Laboratories by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 742,639 shares of the electronics maker’s stock valued at $58,000,000 after acquiring an additional 25,047 shares during the period. 58.56% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories Stock Down 0.0%

DLB opened at $75.23 on Friday. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The company has a 50 day moving average of $74.73 and a two-hundred day moving average of $78.49. The company has a market cap of $7.23 billion, a P/E ratio of 27.66 and a beta of 0.93.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.05. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The business had revenue of $369.56 million for the quarter, compared to analysts’ expectations of $375.44 million. During the same period in the previous year, the company posted $1.27 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. Research analysts anticipate that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.32 dividend on an annualized basis and a yield of 1.75%. Dolby Laboratories’s dividend payout ratio is currently 49.81%.

Analyst Ratings Changes

Several brokerages have recently weighed in on DLB. Tigress Financial initiated 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. Wall Street Zen raised Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, May 2nd. Finally, Rosenblatt Securities cut their target price on Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, May 2nd.

Insider Activity at Dolby Laboratories

In other news, SVP John D. Couling sold 675 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $75.04, for a total value of $50,652.00. Following the sale, the senior vice president now owns 121,151 shares of the company’s stock, valued at approximately $9,091,171.04. The trade was a 0.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin J. Yeaman sold 33,683 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $76.22, for a total value of $2,567,318.26. Following the completion of the transaction, the chief executive officer now owns 114,725 shares of the company’s stock, valued at $8,744,339.50. This trade represents a 22.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,358 shares of company stock worth $3,743,270 in the last 90 days. 38.39% of the stock is currently owned by company insiders.

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.