Dolby Laboratories $DLB Shares Purchased by US Bancorp DE

US Bancorp DE increased its holdings in shares of Dolby Laboratories (NYSE:DLB) by 18.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,444 shares of the electronics maker’s stock after purchasing an additional 226 shares during the period. US Bancorp DE’s holdings in Dolby Laboratories were worth $116,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in shares of Dolby Laboratories in the 1st quarter worth $25,000. Global X Japan Co. Ltd. purchased a new stake in shares of Dolby Laboratories in the first quarter valued at about $51,000. Fifth Third Bancorp raised its position in shares of Dolby Laboratories by 84.7% in the first quarter. Fifth Third Bancorp now owns 665 shares of the electronics maker’s stock valued at $53,000 after buying an additional 305 shares during the last quarter. 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 buying an additional 440 shares during the last quarter. Finally, 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 buying an additional 524 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

Shares of NYSE:DLB opened at $72.78 on Monday. The stock’s 50 day moving average price is $74.46 and its 200 day moving average price is $76.92. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 26.66 and a beta of 0.91. Dolby Laboratories has a 12 month low of $68.24 and a 12 month high of $89.66.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. The company had revenue of $315.55 million during the quarter, compared to analysts’ expectations of $305.23 million. During the same period last year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, sell-side analysts expect that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Tuesday, August 12th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, August 12th. Dolby Laboratories’s dividend payout ratio (DPR) is currently 48.35%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 price target on shares of Dolby Laboratories in a research report on Friday, August 1st. Wall Street Zen downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Tigress Financial increased their target price on shares of Dolby Laboratories from $112.00 to $114.00 and gave the stock a “buy” rating in a report on Friday. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Friday, May 2nd.

Insider Activity at Dolby Laboratories

In related news, EVP Mark Andrew Sherman sold 15,000 shares of the firm’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 transaction of $1,125,300.00. Following the completion of the sale, the executive vice president directly owned 62,397 shares in the company, valued at approximately $4,681,022.94. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kevin J. Yeaman sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $72.31, for a total transaction of $1,807,750.00. Following the sale, the chief executive officer owned 114,725 shares of the company’s stock, valued at approximately $8,295,764.75. This represents a 17.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,049 shares of company stock valued at $10,521,141. 38.39% of the stock is currently 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.