GAMMA Investing LLC Has $104,000 Position in Dolby Laboratories (NYSE:DLB)

GAMMA Investing LLC increased its holdings in shares of Dolby Laboratories (NYSE:DLB) by 65.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,291 shares of the electronics maker’s stock after purchasing an additional 513 shares during the period. GAMMA Investing LLC’s holdings in Dolby Laboratories were worth $104,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DLB. UMB Bank n.a. lifted its stake in Dolby Laboratories by 170.5% in the 1st quarter. UMB Bank n.a. now owns 698 shares of the electronics maker’s stock valued at $56,000 after acquiring an additional 440 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Dolby Laboratories during the 4th quarter valued at $57,000. Farther Finance Advisors LLC lifted its position in shares of Dolby Laboratories by 239.3% during the 1st quarter. Farther Finance Advisors LLC now owns 743 shares of the electronics maker’s stock worth $60,000 after buying an additional 524 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Dolby Laboratories in the fourth quarter valued at about $71,000. Finally, LRI Investments LLC increased its stake 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 buying an additional 374 shares during the period. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

NYSE:DLB opened at $75.50 on Monday. The firm’s 50-day moving average price is $75.18 and its 200-day moving average price is $77.96. The company has a market capitalization of $7.25 billion, a PE ratio of 28.49 and a beta of 0.91. Dolby Laboratories has a 1-year low of $66.35 and a 1-year high of $89.66.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, beating the consensus estimate of $1.29 by $0.05. The business had revenue of $369.56 million for the quarter, compared to the consensus estimate of $375.44 million. Dolby Laboratories had a return on equity of 11.48% and a net margin of 19.44%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business posted $1.27 EPS. Equities analysts anticipate that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th were issued a $0.33 dividend. The ex-dividend date 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%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DLB shares. Tigress Financial assumed coverage on Dolby Laboratories in a research note on Thursday, May 15th. They set a “buy” rating and a $112.00 target price for the company. Barrington Research reiterated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Friday, May 2nd. Wall Street Zen raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $95.00 target price on shares of Dolby Laboratories in a research note on Friday, June 13th.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 675 shares of the business’s stock in a transaction that occurred on 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 owned 121,151 shares in the company, valued at $9,091,171.04. The trade was a 0.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Andrew Sherman sold 15,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 62,397 shares of the company’s stock, valued at $4,681,022.94. The trade was a 19.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,358 shares of company stock valued at $5,593,770 over the last ninety days. 38.39% of the stock is currently owned by company insiders.

About Dolby Laboratories

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.