Alps Advisors Inc. Buys 23,197 Shares of Dolby Laboratories (NYSE:DLB)

Alps Advisors Inc. raised its position in Dolby Laboratories (NYSE:DLB - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,734 shares of the electronics maker's stock after buying an additional 23,197 shares during the quarter. Alps Advisors Inc. owned about 0.28% of Dolby Laboratories worth $21,341,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new position in shares of Dolby Laboratories in the first quarter valued at $25,000. Global X Japan Co. Ltd. bought a new stake in shares of Dolby Laboratories during the 1st quarter valued at $51,000. Fifth Third Bancorp raised its stake in shares of Dolby Laboratories by 84.7% during the 1st quarter. Fifth Third Bancorp now owns 665 shares of the electronics maker's stock valued at $53,000 after purchasing an additional 305 shares during the period. UMB Bank n.a. raised its stake in shares of Dolby Laboratories by 170.5% during the 1st quarter. UMB Bank n.a. now owns 698 shares of the electronics maker's stock valued at $56,000 after purchasing an additional 440 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Dolby Laboratories during the 4th quarter valued at $57,000. 58.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP John D. Couling sold 675 shares of the company's stock in a transaction dated 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 transaction, the senior vice president directly owned 121,151 shares in the company, valued at approximately $9,091,171.04. This represents a 0.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin J. Yeaman sold 33,683 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $76.22, for a total value of $2,567,318.26. Following the completion of the transaction, the chief executive officer owned 114,725 shares of the company's stock, valued at $8,744,339.50. The trade was a 22.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,358 shares of company stock worth $5,593,770 over the last ninety days. 38.39% of the stock is owned by corporate insiders.

Dolby Laboratories Stock Performance

Dolby Laboratories stock traded down $0.04 during midday trading on Monday, hitting $75.13. 272,799 shares of the company's stock were exchanged, compared to its average volume of 439,127. Dolby Laboratories has a 52-week low of $66.35 and a 52-week high of $89.66. The stock has a 50-day moving average price of $75.10 and a two-hundred day moving average price of $77.86. The company has a market cap of $7.22 billion, a P/E ratio of 28.35 and a beta of 0.91.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its 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. Dolby Laboratories had a return on equity of 11.48% and a net margin of 19.44%. The business had revenue of $369.56 million during the quarter, compared to analysts' expectations of $375.44 million. During the same period in the previous year, the business earned $1.27 earnings per share. The firm's revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

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

Analyst Upgrades and Downgrades

DLB has been the subject of a number of analyst reports. Barrington Research restated an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, May 2nd. Rosenblatt Securities restated a "buy" rating and issued a $95.00 price objective on shares of Dolby Laboratories in a research report on Friday, June 13th. Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Tigress Financial assumed coverage on shares of Dolby Laboratories in a research report on Thursday, May 15th. They issued a "buy" rating and a $112.00 price objective 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.