Aristotle Capital Management LLC Sells 27,187 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Aristotle Capital Management LLC trimmed its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 0.32% of Dolby Laboratories worth $24,135,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its holdings in Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock worth $28,000 after buying an additional 163 shares during the period. Nisa Investment Advisors LLC raised its holdings in Dolby Laboratories by 436.2% during the 4th 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. increased 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 worth $41,000 after buying an additional 142 shares during the period. Headlands Technologies LLC bought a new position in Dolby Laboratories during the fourth quarter worth $57,000. Finally, GAMMA Investing LLC lifted its holdings in Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock valued at $61,000 after buying an additional 525 shares during the period. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Trading Down 1.1 %

Dolby Laboratories stock traded down $0.78 during midday trading on Wednesday, reaching $73.48. The stock had a trading volume of 613,751 shares, compared to its average volume of 453,602. The company has a fifty day moving average price of $77.46 and a two-hundred day moving average price of $78.34. The company has a market capitalization of $7.01 billion, a P/E ratio of 27.01 and a beta of 0.95. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.05. The company had revenue of $369.56 million for the quarter, compared to analyst estimates of $375.44 million. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The firm's revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.27 EPS. On average, equities research analysts predict that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current fiscal 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 paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.80%. Dolby Laboratories's payout ratio is presently 49.81%.

Insider Activity

In related news, CMO Todd Pendleton sold 18,121 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were 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 trade represents a 32.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 38.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.