23,974 Shares in Dolby Laboratories, Inc. (NYSE:DLB) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 23,974 shares of the electronics maker's stock, valued at approximately $1,872,000.

A number of other large investors also recently bought and sold shares of the business. Bank of Nova Scotia lifted its stake in shares of Dolby Laboratories by 377.9% during the 4th quarter. Bank of Nova Scotia now owns 25,575 shares of the electronics maker's stock worth $1,997,000 after purchasing an additional 20,223 shares during the last quarter. FIL Ltd raised its stake in shares of Dolby Laboratories by 90.9% during the 4th quarter. FIL Ltd now owns 5,365 shares of the electronics maker's stock worth $419,000 after acquiring an additional 2,554 shares in the last quarter. Invesco Ltd. lifted its position in Dolby Laboratories by 8.3% during the fourth quarter. Invesco Ltd. now owns 266,269 shares of the electronics maker's stock valued at $20,796,000 after acquiring an additional 20,431 shares during the last quarter. Cerity Partners LLC increased its position in shares of Dolby Laboratories by 33.9% during the fourth quarter. Cerity Partners LLC now owns 14,643 shares of the electronics maker's stock worth $1,135,000 after purchasing an additional 3,706 shares in the last quarter. Finally, 2Xideas AG lifted its holdings in shares of Dolby Laboratories by 66.7% during the 4th quarter. 2Xideas AG now owns 161,398 shares of the electronics maker's stock valued at $12,605,000 after purchasing an additional 64,554 shares during the last quarter. Institutional investors own 58.56% of the company's stock.

Dolby Laboratories Trading Down 1.1 %

Shares of NYSE DLB traded down $0.78 during trading on Wednesday, reaching $73.48. 613,751 shares of the company traded hands, compared to its average volume of 452,441. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The stock has a market cap of $7.01 billion, a P/E ratio of 27.01 and a beta of 0.95. The firm's fifty day simple moving average is $77.29 and its 200 day simple moving average is $78.31.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.05. The company had revenue of $369.56 million during the quarter, compared to the consensus estimate of $375.44 million. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. Dolby Laboratories's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 earnings per share. As a group, research analysts expect that Dolby Laboratories, Inc. will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 13th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.32 dividend on an annualized basis and a yield of 1.80%. Dolby Laboratories's payout ratio is 49.81%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barrington Research reaffirmed an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, May 2nd. Rosenblatt Securities dropped their target price on shares of Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, StockNews.com downgraded shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

Insiders Place Their Bets

In other Dolby Laboratories news, CMO Todd Pendleton sold 18,121 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the transaction, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John D. Couling sold 675 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were 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 now owns 121,151 shares of the company's stock, valued at $9,091,171.04. This trade represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 38.39% of the company's stock.

About Dolby Laboratories

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.