First Trust Advisors LP Has $109.91 Million Stock Holdings in Dolby Laboratories $DLB

First Trust Advisors LP lifted its stake in shares of Dolby Laboratories (NYSE:DLB) by 22.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,518,657 shares of the electronics maker’s stock after acquiring an additional 281,214 shares during the quarter. First Trust Advisors LP owned approximately 1.58% of Dolby Laboratories worth $109,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Royal Bank of Canada increased its position in Dolby Laboratories by 3.5% during the 1st quarter. Royal Bank of Canada now owns 68,367 shares of the electronics maker’s stock valued at $5,491,000 after purchasing an additional 2,298 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Dolby Laboratories by 218.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 249,574 shares of the electronics maker’s stock worth $20,043,000 after purchasing an additional 171,288 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Dolby Laboratories by 5.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,216 shares of the electronics maker’s stock valued at $19,131,000 after purchasing an additional 12,598 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Dolby Laboratories in the 1st quarter valued at $390,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Dolby Laboratories during the second quarter worth $50,000. 58.56% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories Trading Down 0.2%

NYSE:DLB opened at $65.40 on Monday. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 26.37 and a beta of 0.84. The firm has a fifty day simple moving average of $64.23 and a two-hundred day simple moving average of $67.22. Dolby Laboratories has a 12 month low of $60.14 and a 12 month high of $84.15.

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

Dolby Laboratories Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Dolby Laboratories in a research note on Monday, December 29th. Barrington Research decreased their price target on Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, January 26th. Wall Street Zen lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective on shares of Dolby Laboratories in a research note on Friday, January 30th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.75.

Insider Transactions at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 34,367 shares of Dolby Laboratories stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $67.08, for a total transaction of $2,305,338.36. Following the completion of the transaction, the chief executive officer directly owned 98,377 shares in the company, valued at $6,599,129.16. This trade represents a 25.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ryan Nicholson sold 2,667 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $66.38, for a total transaction of $177,035.46. Following the sale, the chief accounting officer directly owned 36,956 shares of the company’s stock, valued at approximately $2,453,139.28. The trade was a 6.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 92,424 shares of company stock valued at $6,196,501. Corporate insiders own 37.93% of the company’s stock.

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.