ProShare Advisors LLC Purchases 6,227 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

ProShare Advisors LLC lifted its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,996 shares of the electronics maker's stock after buying an additional 6,227 shares during the period. ProShare Advisors LLC owned about 0.11% of Dolby Laboratories worth $8,122,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp lifted its stake in Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock worth $28,000 after acquiring an additional 163 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after purchasing an additional 301 shares during the period. Mather Group LLC. lifted its position in shares of Dolby Laboratories by 36.8% in 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 stake in shares of Dolby Laboratories during the fourth quarter worth approximately $57,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Dolby Laboratories during the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds own 58.56% of the company's stock.

Insider Transactions at Dolby Laboratories

In related news, SVP John D. Couling sold 675 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was 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 directly owns 121,151 shares in the company, valued at approximately $9,091,171.04. The trade was a 0.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 38.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DLB shares. Tigress Financial began coverage on shares of Dolby Laboratories in a research report on Thursday, May 15th. They issued a "buy" rating and a $112.00 target price for the company. Rosenblatt Securities dropped their price target on shares of Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st. Finally, Barrington Research restated an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Friday, May 2nd.

Dolby Laboratories Price Performance

DLB traded down $0.68 during midday trading on Friday, hitting $74.90. 53,804 shares of the company's stock traded hands, compared to its average volume of 448,960. The company has a market cap of $7.19 billion, a PE ratio of 27.56 and a beta of 0.95. The stock's fifty day simple moving average is $76.16 and its 200-day simple moving average is $78.56. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.05. The business had revenue of $369.56 million for the quarter, compared to the consensus estimate of $375.44 million. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. Dolby Laboratories's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 EPS. On average, research analysts expect that Dolby Laboratories, Inc. will post 2.94 EPS for the current year.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 13th were given a $0.33 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.76%. Dolby Laboratories's dividend payout ratio is currently 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.