AQR Capital Management LLC Decreases Stake in Dolby Laboratories, Inc. (NYSE:DLB)

AQR Capital Management LLC cut its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 20.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 699,260 shares of the electronics maker's stock after selling 175,011 shares during the quarter. AQR Capital Management LLC owned 0.73% of Dolby Laboratories worth $54,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its holdings in shares of Dolby Laboratories by 5.6% during the 4th quarter. Northern Trust Corp now owns 582,004 shares of the electronics maker's stock valued at $45,455,000 after acquiring an additional 30,826 shares in the last quarter. Aquatic Capital Management LLC boosted its stake in shares of Dolby Laboratories by 1,036.4% during the fourth quarter. Aquatic Capital Management LLC now owns 21,592 shares of the electronics maker's stock valued at $1,686,000 after purchasing an additional 19,692 shares in the last quarter. Snyder Capital Management L P grew its holdings in shares of Dolby Laboratories by 15.7% during the fourth quarter. Snyder Capital Management L P now owns 465,147 shares of the electronics maker's stock worth $36,328,000 after purchasing an additional 62,962 shares during the last quarter. Oberweis Asset Management Inc. bought a new stake in shares of Dolby Laboratories during the fourth quarter worth about $14,136,000. Finally, Voya Investment Management LLC increased its stake in shares of Dolby Laboratories by 157.3% in the fourth quarter. Voya Investment Management LLC now owns 20,539 shares of the electronics maker's stock valued at $1,604,000 after buying an additional 12,558 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.

Insider Transactions at Dolby Laboratories

In related news, CMO Todd Pendleton sold 18,121 shares of the company's stock in a transaction 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 completion of the sale, 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 filing with the SEC, which can be accessed through this link. 38.39% of the stock is currently owned by insiders.

Dolby Laboratories Price Performance

Shares of DLB stock traded up $0.18 on Wednesday, reaching $74.44. 61,760 shares of the company were exchanged, compared to its average volume of 451,429. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 27.38 and a beta of 0.95. The company has a 50-day moving average of $77.46 and a 200-day moving average of $78.34.

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

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Tuesday, May 13th. Dolby Laboratories's payout ratio is presently 49.81%.

Analyst Ratings Changes

DLB has been the topic of a number of research reports. StockNews.com lowered shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st. Rosenblatt Securities lowered their target price on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Barrington Research reiterated an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, May 2nd.

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.