Cerity Partners LLC Buys 7,111 Shares of Dolby Laboratories (NYSE:DLB)

Cerity Partners LLC boosted its stake in shares of Dolby Laboratories (NYSE:DLB) by 48.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,754 shares of the electronics maker’s stock after purchasing an additional 7,111 shares during the quarter. Cerity Partners LLC’s holdings in Dolby Laboratories were worth $1,747,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Dolby Laboratories by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker’s stock valued at $549,325,000 after acquiring an additional 68,771 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Dolby Laboratories by 18.3% in the first quarter. Bank of New York Mellon Corp now owns 5,709,193 shares of the electronics maker’s stock valued at $458,505,000 after acquiring an additional 882,716 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Dolby Laboratories by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 901,707 shares of the electronics maker’s stock valued at $70,424,000 after acquiring an additional 31,164 shares during the period. First Trust Advisors LP boosted its position in shares of 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 acquiring an additional 7,265 shares during the period. Finally, Norges Bank bought a new stake in shares of Dolby Laboratories in the fourth quarter valued at approximately $55,356,000. Institutional investors own 58.56% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related 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 completion of the sale, the senior vice president directly owned 121,151 shares in the company, valued at $9,091,171.04. The trade was a 0.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin J. Yeaman sold 39,875 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $74.82, for a total value of $2,983,447.50. Following the completion of the sale, the chief executive officer owned 114,725 shares of the company’s stock, valued at $8,583,724.50. This trade represents a 25.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,724 shares of company stock valued at $8,764,043 in the last 90 days. 38.39% of the stock is currently owned by insiders.

Dolby Laboratories Stock Down 0.4%

Shares of DLB stock opened at $75.35 on Monday. The stock has a 50-day moving average price of $75.16 and a 200 day moving average price of $77.76. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 28.43 and a beta of 0.91. Dolby Laboratories has a 12 month low of $66.35 and a 12 month high of $89.66.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.05. Dolby Laboratories had a return on equity of 11.48% and a net margin of 19.44%. The business had revenue of $369.56 million for the quarter, compared to analysts’ expectations of $375.44 million. During the same quarter in the previous year, the business posted $1.27 EPS. Dolby Laboratories’s revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts predict that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories’s dividend payout ratio (DPR) is 49.81%.

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.