Fiera Capital Corp Trims Holdings in Dolby Laboratories $DLB

Fiera Capital Corp cut its position in shares of Dolby Laboratories (NYSE:DLB) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 616,226 shares of the electronics maker’s stock after selling 14,320 shares during the quarter. Fiera Capital Corp owned approximately 0.64% of Dolby Laboratories worth $44,596,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Dolby Laboratories during the second quarter worth approximately $55,030,000. AQR Capital Management LLC lifted its stake in shares of Dolby Laboratories by 51.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,736,260 shares of the electronics maker’s stock worth $128,935,000 after purchasing an additional 592,282 shares during the period. First Trust Advisors LP boosted its holdings in shares of Dolby Laboratories by 35.2% during the second quarter. First Trust Advisors LP now owns 1,237,443 shares of the electronics maker’s stock worth $91,893,000 after purchasing an additional 322,063 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Dolby Laboratories by 98.2% in the third quarter. Pacer Advisors Inc. now owns 443,897 shares of the electronics maker’s stock valued at $32,125,000 after purchasing an additional 219,901 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Dolby Laboratories by 2.7% in the third quarter. Vanguard Group Inc. now owns 7,756,924 shares of the electronics maker’s stock valued at $561,369,000 after purchasing an additional 203,411 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Insider Activity

In related news, SVP Shriram Revankar sold 3,000 shares of Dolby Laboratories stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $66.14, for a total value of $198,420.00. Following the completion of the transaction, the senior vice president directly owned 83,218 shares in the company, valued at approximately $5,504,038.52. This trade represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin J. Yeaman sold 36,699 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $66.91, for a total value of $2,455,530.09. Following the transaction, the chief executive officer directly owned 114,725 shares in the company, valued at approximately $7,676,249.75. This represents a 24.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 133,623 shares of company stock worth $8,956,051 over the last ninety days. Insiders own 37.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on DLB shares. Barrington Research cut their price objective on shares of Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, January 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Dolby Laboratories in a report on Monday, December 29th. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a research note on Friday, January 30th. Finally, Wall Street Zen downgraded Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.75.

Dolby Laboratories Price Performance

NYSE:DLB opened at $64.27 on Friday. The firm has a 50-day moving average of $64.58 and a two-hundred day moving average of $67.90. The stock has a market cap of $6.14 billion, a P/E ratio of 25.92 and a beta of 0.86. Dolby Laboratories has a 1-year low of $60.14 and a 1-year high of $84.15.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. Dolby Laboratories had a return on equity of 11.50% and a net margin of 17.97%.The business had revenue of $346.71 million for the quarter, compared to analysts’ expectations of $341.26 million. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The company’s revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $1.44 annualized dividend and a yield of 2.2%. Dolby Laboratories’s dividend payout ratio is currently 58.06%.

Dolby Laboratories Profile

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.