8,245 Shares in Dolby Laboratories $DLB Acquired by Capital Investment Counsel Inc

Capital Investment Counsel Inc bought a new position in Dolby Laboratories (NYSE:DLB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,245 shares of the electronics maker’s stock, valued at approximately $529,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Corp acquired a new stake in Dolby Laboratories in the 3rd quarter worth approximately $25,000. Hantz Financial Services Inc. increased its position in Dolby Laboratories by 166.7% during the third quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 220 shares during the period. Mather Group LLC. bought a new position in Dolby Laboratories during the third quarter worth $38,000. Rothschild Investment LLC increased its position in Dolby Laboratories by 4,046.7% during the third quarter. Rothschild Investment LLC now owns 622 shares of the electronics maker’s stock worth $45,000 after acquiring an additional 607 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Dolby Laboratories during the third quarter worth $50,000. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Ryan Nicholson sold 2,667 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,453,139.28. The trade was a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Shriram Revankar sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $66.14, for a total value of $198,420.00. Following the sale, the senior vice president owned 83,218 shares in the company, valued at approximately $5,504,038.52. This represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 37.93% of the company’s stock.

Analysts Set New Price Targets

DLB has been the topic of a number of research reports. Wall Street Zen lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Dolby Laboratories in a research report on Friday, January 30th. Barrington Research dropped their target price on shares of Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dolby Laboratories in a research report on Friday, March 27th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.75.

Dolby Laboratories Trading Up 0.1%

DLB opened at $60.65 on Monday. The stock has a market cap of $5.79 billion, a PE ratio of 24.46 and a beta of 0.86. Dolby Laboratories has a 1 year low of $57.62 and a 1 year high of $78.28. The stock’s 50 day simple moving average is $63.04 and its 200-day simple moving average is $65.21.

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

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.4%. Dolby Laboratories’s payout ratio is currently 58.06%.

About Dolby Laboratories

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.