Lazard Asset Management LLC Boosts Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Lazard Asset Management LLC grew its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 315,774 shares of the electronics maker's stock after acquiring an additional 22,270 shares during the period. Lazard Asset Management LLC owned about 0.33% of Dolby Laboratories worth $24,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Fifth Third Bancorp grew its stake in shares of Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock worth $28,000 after purchasing an additional 163 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Dolby Laboratories by 436.2% during 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 in the last quarter. Mather Group LLC. grew its stake 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 purchasing an additional 142 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Dolby Laboratories during the fourth quarter worth $57,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Dolby Laboratories during the fourth quarter worth $71,000. Institutional investors and hedge funds own 58.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DLB. StockNews.com downgraded shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st. Tigress Financial initiated coverage on shares of Dolby Laboratories in a research note on Thursday. They issued a "buy" rating and a $112.00 price objective for the company. Barrington Research restated an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, May 2nd. Finally, Rosenblatt Securities decreased their price objective on shares of Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, May 2nd.

Insider Activity

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

Dolby Laboratories Stock Performance

NYSE DLB traded up $0.30 during trading hours on Friday, hitting $77.54. The company had a trading volume of 344,105 shares, compared to its average volume of 452,319. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The company has a market cap of $7.40 billion, a PE ratio of 28.51 and a beta of 0.95. The business has a 50 day moving average of $76.57 and a 200-day moving average of $78.48.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.05. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The company had revenue of $369.56 million during the quarter, compared to the consensus estimate of $375.44 million. During the same quarter in the prior year, the firm posted $1.27 earnings per share. Dolby Laboratories's revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts expect 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 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 dividend yield of 1.70%. Dolby Laboratories's payout ratio is 49.81%.

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.