Dolby Laboratories, Inc. (NYSE:DLB) Holdings Raised by State of Wyoming

State of Wyoming grew its stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 110.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,410 shares of the electronics maker's stock after buying an additional 3,359 shares during the quarter. State of Wyoming's holdings in Dolby Laboratories were worth $501,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Savant Capital LLC increased its holdings in shares of Dolby Laboratories by 2.0% in the fourth 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 increased its stake in Dolby Laboratories by 0.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker's stock worth $1,525,000 after acquiring an additional 132 shares during the last quarter. Mather Group LLC. increased its stake in Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock worth $41,000 after acquiring an additional 142 shares during the last quarter. Naples Global Advisors LLC increased its stake in Dolby Laboratories by 0.4% during the fourth quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker's stock worth $2,791,000 after acquiring an additional 160 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock worth $28,000 after acquiring an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company's stock.

Insider Buying and Selling

In other Dolby Laboratories news, SVP John D. Couling sold 675 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $75.04, for a total transaction of $50,652.00. Following the completion of the transaction, the senior vice president now directly owns 121,151 shares of the company's stock, valued at $9,091,171.04. The trade was a 0.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 38.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DLB shares. Rosenblatt Securities reduced their price objective 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. Tigress Financial started coverage on Dolby Laboratories in a research note on Thursday, May 15th. They set a "buy" rating and a $112.00 price objective on the stock. Barrington Research reissued an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, May 2nd. Finally, Wall Street Zen cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

Dolby Laboratories Trading Down 1.1%

Dolby Laboratories stock traded down $0.83 during trading on Friday, hitting $74.74. The company had a trading volume of 324,323 shares, compared to its average volume of 451,966. The company's 50 day simple moving average is $76.01 and its 200-day simple moving average is $78.58. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 27.48 and a beta of 0.95. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.05. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The company had revenue of $369.56 million during the quarter, compared to the consensus estimate of $375.44 million. During the same quarter in the prior year, the firm posted $1.27 earnings per share. Dolby Laboratories's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, analysts forecast that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories's dividend payout ratio (DPR) is 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.