Assenagon Asset Management S.A. Has $2.35 Million Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Assenagon Asset Management S.A. lowered its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 65.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,298 shares of the electronics maker’s stock after selling 55,860 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Dolby Laboratories were worth $2,353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DLB. UMB Bank n.a. raised its position in shares of Dolby Laboratories by 170.5% in the first quarter. UMB Bank n.a. now owns 698 shares of the electronics maker’s stock valued at $56,000 after purchasing an additional 440 shares during the period. Headlands Technologies LLC bought a new position in shares of Dolby Laboratories in the fourth quarter valued at about $57,000. Farther Finance Advisors LLC raised its position in shares of Dolby Laboratories by 239.3% in the first quarter. Farther Finance Advisors LLC now owns 743 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 524 shares during the period. Kapitalo Investimentos Ltda bought a new position in shares of Dolby Laboratories in the fourth quarter valued at about $71,000. Finally, LRI Investments LLC raised its position in shares of Dolby Laboratories by 53.0% in the fourth quarter. LRI Investments LLC now owns 1,080 shares of the electronics maker’s stock valued at $84,000 after purchasing an additional 374 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Wall Street Analysts Forecast Growth

DLB has been the topic of a number of recent research reports. Wall Street Zen raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 price target on shares of Dolby Laboratories in a research report on Friday. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Friday, May 2nd. Finally, Tigress Financial initiated coverage on shares of Dolby Laboratories in a research report on Thursday, May 15th. They set a “buy” rating and a $112.00 price target on the stock.

Dolby Laboratories Trading Up 1.6%

DLB opened at $75.18 on Tuesday. The company’s 50 day moving average is $74.94 and its 200-day moving average is $78.43. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The company has a market cap of $7.22 billion, a P/E ratio of 27.64 and a beta of 0.93.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data 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 business had revenue of $369.56 million during the quarter, compared to analyst estimates of $375.44 million. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business earned $1.27 EPS. On average, equities analysts forecast that Dolby Laboratories, Inc. will post 2.94 EPS for the current year.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.76%. Dolby Laboratories’s dividend payout ratio is currently 49.81%.

Insider Activity

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 33,683 shares of the business’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $76.22, for a total transaction of $2,567,318.26. Following the completion of the sale, the chief executive officer now owns 114,725 shares in the company, valued at approximately $8,744,339.50. The trade was a 22.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP John D. Couling sold 675 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $75.04, for a total transaction of $50,652.00. Following the sale, the senior vice president now owns 121,151 shares of the company’s stock, valued at $9,091,171.04. This trade represents a 0.55% 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 quarter. 38.39% of the stock is owned by corporate insiders.

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.