Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Aristotle Capital Management LLC

Aristotle Capital Management LLC cut its stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 309,022 shares of the electronics maker's stock after selling 27,187 shares during the quarter. Aristotle Capital Management LLC owned about 0.32% of Dolby Laboratories worth $24,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in shares of Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock worth $28,000 after acquiring an additional 163 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Dolby Laboratories by 436.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock worth $29,000 after purchasing an additional 301 shares during the last quarter. Mather Group LLC. boosted its position in shares of Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after buying an additional 142 shares during the period. Headlands Technologies LLC bought a new position in shares of Dolby Laboratories during the fourth quarter valued at approximately $57,000. Finally, GAMMA Investing LLC raised its holdings in shares of Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock worth $61,000 after buying an additional 525 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Dolby Laboratories Stock Performance

DLB traded up $1.41 during trading on Thursday, hitting $74.85. 188,628 shares of the stock were exchanged, compared to its average volume of 477,960. The firm has a 50 day simple moving average of $77.29 and a 200 day simple moving average of $78.31. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 27.52 and a beta of 0.95. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66.

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

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, May 13th. Dolby Laboratories's dividend payout ratio (DPR) is 49.81%.

Insiders Place Their Bets

In related news, SVP John D. Couling sold 675 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $75.04, for a total transaction of $50,652.00. Following the completion of the sale, the senior vice president now directly owns 121,151 shares in the company, valued at $9,091,171.04. This represents a 0.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Todd Pendleton sold 18,121 shares of the business's stock in a transaction dated 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 transaction, the chief marketing officer now owns 37,290 shares of the company's stock, valued at $3,123,037.50. This represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 38.39% of the stock is owned by company insiders.

Dolby Laboratories Company Profile

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.