Blair William & Co. IL Sells 5,084 Shares of Dolby Laboratories (NYSE:DLB)

Key Points

• Blair William & Co. IL reduced its stake in Dolby Laboratories by 9.5%, selling 5,084 shares and now holds 48,658 shares valued at approximately $3.9 million.
• Multiple analysts have recently upgraded their ratings on Dolby Laboratories, with targets ranging from $95.00 to $112.00.
• Dolby Laboratories announced a quarterly dividend of $0.33 per share, representing an annual yield of 1.8%, with the payout scheduled for August 20th.

Blair William & Co. IL trimmed its holdings in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 9.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,658 shares of the electronics maker's stock after selling 5,084 shares during the quarter. Blair William & Co. IL owned 0.05% of Dolby Laboratories worth $3,908,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DLB. American Century Companies Inc. raised its position in Dolby Laboratories by 12.3% during the fourth quarter. American Century Companies Inc. now owns 21,588 shares of the electronics maker's stock valued at $1,686,000 after purchasing an additional 2,356 shares during the period. Palogic Value Management L.P. raised its holdings in Dolby Laboratories by 6.4% during the 4th quarter. Palogic Value Management L.P. now owns 3,888 shares of the electronics maker's stock valued at $304,000 after buying an additional 235 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in Dolby Laboratories in the fourth quarter worth $834,000. Russell Investments Group Ltd. boosted its stake in Dolby Laboratories by 5.5% during the fourth quarter. Russell Investments Group Ltd. now owns 40,924 shares of the electronics maker's stock worth $3,196,000 after buying an additional 2,117 shares during the period. Finally, Cerity Partners LLC boosted its stake in Dolby Laboratories by 33.9% during the fourth quarter. Cerity Partners LLC now owns 14,643 shares of the electronics maker's stock worth $1,135,000 after buying an additional 3,706 shares during the period. Institutional investors own 58.56% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Tigress Financial assumed coverage on shares of Dolby Laboratories in a research note on Thursday, May 15th. They issued a "buy" rating and a $112.00 price objective for the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $95.00 target price on shares of Dolby Laboratories in a research note on Friday, August 1st. Finally, Barrington Research reiterated an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Friday, May 2nd.

Dolby Laboratories Stock Performance

Shares of NYSE DLB opened at $71.91 on Friday. Dolby Laboratories has a 52-week low of $66.35 and a 52-week high of $89.66. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 26.34 and a beta of 0.91. The stock has a 50 day moving average price of $74.70 and a 200 day moving average price of $77.35.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.06. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%. The business had revenue of $315.55 million for the quarter, compared to the consensus estimate of $305.23 million. During the same quarter in the prior year, the company earned $0.71 EPS. The business's revenue was up 9.2% compared to the same quarter last year. Analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Tuesday, August 12th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, August 12th. Dolby Laboratories's dividend payout ratio is 48.35%.

Insiders Place Their Bets

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 2,491 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $75.00, for a total value of $186,825.00. Following the completion of the sale, the chief executive officer directly owned 114,725 shares in the company, valued at $8,604,375. This trade represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Andrew Sherman sold 15,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $75.02, for a total value of $1,125,300.00. Following the completion of the sale, the executive vice president directly owned 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. Insiders have sold a total of 116,049 shares of company stock valued at $8,713,391 over the last 90 days. 38.39% of the stock is currently 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.

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