Boston Trust Walden Corp Sells 8,886 Shares of Dolby Laboratories (NYSE:DLB)

Boston Trust Walden Corp lessened its stake in Dolby Laboratories (NYSE:DLB - Free Report) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,075,814 shares of the electronics maker's stock after selling 8,886 shares during the period. Boston Trust Walden Corp owned 1.13% of Dolby Laboratories worth $86,399,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of DLB. Allspring Global Investments Holdings LLC raised its position in shares of Dolby Laboratories by 10,441,900.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker's stock valued at $8,123,000 after acquiring an additional 104,419 shares during the last quarter. Rhumbline Advisers raised its position in shares of Dolby Laboratories by 0.5% during the 4th quarter. Rhumbline Advisers now owns 250,121 shares of the electronics maker's stock valued at $19,534,000 after acquiring an additional 1,194 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Dolby Laboratories by 6.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 29,603 shares of the electronics maker's stock valued at $2,312,000 after acquiring an additional 1,693 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Dolby Laboratories by 8,415.6% during the 4th quarter. Venturi Wealth Management LLC now owns 3,832 shares of the electronics maker's stock valued at $299,000 after acquiring an additional 3,787 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Dolby Laboratories during the 4th quarter valued at $246,000. Institutional investors own 58.56% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on DLB shares. Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Tigress Financial started coverage on shares of Dolby Laboratories in a research report on Thursday, May 15th. They set a "buy" rating and a $112.00 target price for the company. Barrington Research reiterated an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, May 2nd. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $95.00 price target on shares of Dolby Laboratories in a report on Friday, June 13th.

Dolby Laboratories Trading Down 1.5%

Shares of DLB stock traded down $1.09 on Friday, hitting $72.25. The stock had a trading volume of 1,043,161 shares, compared to its average volume of 452,696. Dolby Laboratories has a twelve month low of $66.35 and a twelve month high of $89.66. The firm has a market cap of $6.94 billion, a P/E ratio of 27.26 and a beta of 0.93. The company has a fifty day moving average price of $74.90 and a two-hundred day moving average price of $78.25.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its quarterly earnings results 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 19.44% and a return on equity of 11.48%. The company had revenue of $369.56 million during the quarter, compared to analyst estimates of $375.44 million. During the same quarter in the previous year, the business earned $1.27 EPS. The firm's revenue was up 1.4% on a year-over-year basis. On average, analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories's payout ratio is presently 49.81%.

Insider Buying and Selling

In related news, SVP John D. Couling sold 675 shares of the company's stock in a transaction on 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 transaction, the senior vice president now directly owns 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the transaction, the executive vice president now directly owns 62,397 shares of the company's stock, valued at approximately $4,681,022.94. The trade was a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,358 shares of company stock valued at $3,743,270. Company insiders own 38.39% of the company's stock.

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.