6,671 Shares in Dolby Laboratories, Inc. (NYSE:DLB) Acquired by Merit Financial Group LLC

Merit Financial Group LLC bought a new position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 6,671 shares of the electronics maker's stock, valued at approximately $536,000.

Several other hedge funds have also recently made changes to their positions in DLB. Allspring Global Investments Holdings LLC lifted its position in Dolby Laboratories by 10,441,900.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker's stock worth $8,123,000 after buying an additional 104,419 shares during the last quarter. Barclays PLC lifted its holdings in shares of Dolby Laboratories by 80.5% in the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker's stock worth $2,544,000 after acquiring an additional 14,825 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Dolby Laboratories by 111.1% during the 4th quarter. AlphaQuest LLC now owns 6,148 shares of the electronics maker's stock worth $480,000 after purchasing an additional 3,235 shares during the period. Vise Technologies Inc. purchased a new position in shares of Dolby Laboratories during the 4th quarter worth about $308,000. Finally, Twin Tree Management LP bought a new position in Dolby Laboratories during the 4th quarter valued at about $662,000. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 675 shares of Dolby Laboratories stock in a transaction on Monday, May 5th. The shares were sold at an average price of $75.04, for a total value of $50,652.00. Following the transaction, the senior vice president now directly owns 121,151 shares of the company's stock, valued at approximately $9,091,171.04. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 15,000 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $75.02, for a total value of $1,125,300.00. Following the sale, the executive vice president now owns 62,397 shares of the company's stock, valued at approximately $4,681,022.94. This represents a 19.38% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 38.39% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Rosenblatt Securities cut their target price 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. Barrington Research restated an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Friday, May 2nd. Wall Street Zen upgraded Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Tigress Financial began coverage on Dolby Laboratories in a research report on Thursday, May 15th. They set a "buy" rating and a $112.00 target price for the company.

Dolby Laboratories Trading Up 1.3%

Shares of Dolby Laboratories stock traded up $0.98 on Tuesday, hitting $76.48. 375,763 shares of the company traded hands, compared to its average volume of 450,468. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66. The company has a market cap of $7.35 billion, a PE ratio of 28.12 and a beta of 0.93. The stock's 50 day moving average price is $74.60 and its 200-day moving average price is $78.57.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.05. The business 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%. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.27 EPS. As a group, research analysts anticipate that Dolby Laboratories, Inc. will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.73%. Dolby Laboratories's dividend payout ratio is presently 49.81%.

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.