Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 70.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,694 shares of the electronics maker's stock after selling 137,921 shares during the period. Price T Rowe Associates Inc. MD owned about 0.06% of Dolby Laboratories worth $4,507,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Savant Capital LLC lifted its position in shares of Dolby Laboratories by 2.0% during the 4th quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker's stock worth $490,000 after purchasing an additional 125 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in Dolby Laboratories by 0.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker's stock valued at $1,525,000 after buying an additional 132 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Dolby Laboratories by 5.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker's stock worth $201,000 after buying an additional 136 shares during the last quarter. Mather Group LLC. boosted its position in shares of Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock worth $41,000 after acquiring an additional 142 shares in the last quarter. Finally, Naples Global Advisors LLC increased its holdings in shares of Dolby Laboratories by 0.4% in the 4th quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker's stock valued at $2,791,000 after acquiring an additional 160 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Dolby Laboratories Trading Up 0.4 %

Shares of NYSE DLB traded up $0.31 during trading hours on Friday, reaching $75.29. The stock had a trading volume of 278,880 shares, compared to its average volume of 454,071. The firm has a 50-day moving average of $77.07 and a 200-day moving average of $78.37. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 27.68 and a beta of 0.95. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 earnings per share 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 business had revenue of $369.56 million during the quarter, compared to the consensus estimate of $375.44 million. During the same period in the prior year, the company earned $1.27 earnings per share. The company's revenue was up 1.4% compared to the same quarter last year. On average, equities analysts predict that Dolby Laboratories, Inc. will post 2.94 EPS for the current year.

Dolby Laboratories Announces Dividend

The company 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. This represents a $1.32 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Tuesday, May 13th. Dolby Laboratories's payout ratio is 49.81%.

Insider Transactions at Dolby Laboratories

In related news, SVP John D. Couling sold 675 shares of the firm's stock in a transaction dated 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 in the company, valued at $9,091,171.04. This trade represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 38.39% of the company's stock.

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.