Alps Advisors Inc. Has $21.34 Million Stake in Dolby Laboratories (NYSE:DLB)

Alps Advisors Inc. increased its position in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 9.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 265,734 shares of the electronics maker's stock after buying an additional 23,197 shares during the period. Alps Advisors Inc. owned 0.28% of Dolby Laboratories worth $21,341,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC raised its holdings in shares of Dolby Laboratories by 2.7% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 8,635 shares of the electronics maker's stock valued at $693,000 after purchasing an additional 229 shares during the period. M&T Bank Corp grew its holdings in Dolby Laboratories by 8.3% during the first quarter. M&T Bank Corp now owns 3,595 shares of the electronics maker's stock worth $289,000 after purchasing an additional 274 shares during the period. Bank of New York Mellon Corp increased its position in Dolby Laboratories by 18.3% during the first quarter. Bank of New York Mellon Corp now owns 5,709,193 shares of the electronics maker's stock worth $458,505,000 after buying an additional 882,716 shares during the last quarter. Principal Financial Group Inc. raised its stake in Dolby Laboratories by 3.0% in the first quarter. Principal Financial Group Inc. now owns 140,806 shares of the electronics maker's stock valued at $11,308,000 after buying an additional 4,121 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Dolby Laboratories by 3.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 12,524 shares of the electronics maker's stock valued at $1,006,000 after buying an additional 400 shares during the last quarter. 58.56% of the stock is owned by institutional investors.

Insider Buying and Selling at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 33,683 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $76.22, for a total transaction of $2,567,318.26. Following the sale, the chief executive officer directly owned 114,725 shares of the company's stock, valued at approximately $8,744,339.50. The trade was a 22.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Andrew Sherman sold 15,000 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $75.02, for a total transaction of $1,125,300.00. Following the transaction, the executive vice president owned 62,397 shares of the company's stock, valued at $4,681,022.94. This trade represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,358 shares of company stock valued at $5,593,770 in the last ninety days. 38.39% of the stock is currently owned by company insiders.

Dolby Laboratories Price Performance

DLB traded down $0.61 during trading on Friday, hitting $75.07. The stock had a trading volume of 278,499 shares, compared to its average volume of 451,621. The company has a 50 day moving average price of $75.10 and a 200-day moving average price of $77.89. Dolby Laboratories has a one year low of $66.35 and a one year high of $89.66. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 28.33 and a beta of 0.91.

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 analysts' consensus estimates of $1.29 by $0.05. The business had revenue of $369.56 million for 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%. Dolby Laboratories's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the firm earned $1.27 earnings per share. As a group, sell-side analysts predict that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories's payout ratio is currently 49.81%.

Wall Street Analyst Weigh In

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

Dolby Laboratories 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.