Cwm LLC Has $1.11 Million Holdings in Dolby Laboratories (NYSE:DLB)

CWM LLC raised its holdings in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 269.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,785 shares of the electronics maker's stock after buying an additional 10,054 shares during the period. CWM LLC's holdings in Dolby Laboratories were worth $1,107,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Dolby Laboratories during the fourth quarter valued at approximately $1,872,000. Natixis Advisors LLC raised its stake in shares of Dolby Laboratories by 2.0% during the fourth quarter. Natixis Advisors LLC now owns 21,228 shares of the electronics maker's stock valued at $1,658,000 after purchasing an additional 420 shares during the period. Xponance Inc. raised its stake in shares of Dolby Laboratories by 6.4% during the fourth quarter. Xponance Inc. now owns 8,690 shares of the electronics maker's stock valued at $679,000 after purchasing an additional 525 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Dolby Laboratories during the fourth quarter valued at approximately $290,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Dolby Laboratories during the fourth quarter valued at approximately $414,000. 58.56% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock traded down $0.24 during trading on Friday, hitting $76.09. 12,063 shares of the stock were exchanged, compared to its average volume of 427,934. The stock's fifty day moving average is $75.07 and its 200 day moving average is $77.71. The stock has a market cap of $7.31 billion, a PE ratio of 28.71 and a beta of 0.91. Dolby Laboratories has a 12 month low of $66.35 and a 12 month high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 EPS 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 analyst estimates of $375.44 million. Dolby Laboratories had a net margin of 19.44% and a return on equity of 11.48%. The company's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 earnings per share. Sell-side analysts anticipate that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DLB. Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Rosenblatt Securities restated a "buy" rating and issued a $95.00 price target on shares of Dolby Laboratories in a research note on Friday, June 13th. Tigress Financial initiated coverage on shares of Dolby Laboratories in a research note on Thursday, May 15th. They issued a "buy" rating and a $112.00 price target for the company. Finally, Barrington Research reiterated an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Friday, May 2nd.

Insider Buying and Selling

In other Dolby Laboratories news, SVP John D. Couling sold 675 shares of the company'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 directly owned 121,151 shares of the company's stock, valued at approximately $9,091,171.04. This represents a 0.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin J. Yeaman sold 2,491 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $75.00, for a total transaction of $186,825.00. Following the completion of the sale, the chief executive officer directly owned 114,725 shares of the company's stock, valued at $8,604,375. The trade was a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,724 shares of company stock valued at $8,764,043 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.