Fiera Capital Corp Increases Stake in Dolby Laboratories (NYSE:DLB)

Key Points

• Fiera Capital Corp increased its stake in Dolby Laboratories by 19.0%, acquiring an additional 102,028 shares to hold a total of 639,404 shares, valued at approximately $51.35 million.
• CEO Kevin J. Yeaman sold 39,875 shares of Dolby, representing a 25.79% decrease in his position, while the company itself reported an earnings beat in its latest quarter.
• Several analysts have set optimistic price targets for Dolby Laboratories, with ratings including a "buy" from Rosenblatt Securities and a target of $95.00, reflecting a positive outlook on the stock.

Fiera Capital Corp grew its holdings in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 19.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 639,404 shares of the electronics maker's stock after buying an additional 102,028 shares during the period. Fiera Capital Corp owned approximately 0.67% of Dolby Laboratories worth $51,351,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Dolby Laboratories by 114.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,141 shares of the electronics maker's stock worth $975,000 after purchasing an additional 6,484 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of Dolby Laboratories in the 1st quarter worth $222,000. Vise Technologies Inc. bought a new position in shares of Dolby Laboratories in the 4th quarter worth $308,000. Principal Financial Group Inc. lifted its holdings in shares of Dolby Laboratories by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 140,806 shares of the electronics maker's stock worth $11,308,000 after purchasing an additional 4,121 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Dolby Laboratories in the 4th quarter worth $1,872,000. 58.56% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP John D. Couling sold 675 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $75.04, for a total transaction of $50,652.00. Following the completion of the sale, the senior vice president directly owned 121,151 shares of the company's stock, valued at $9,091,171.04. This trade represents a 0.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin J. Yeaman sold 2,491 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $75.00, for a total value of $186,825.00. Following the sale, the chief executive officer directly owned 114,725 shares of the company's stock, valued at approximately $8,604,375. This represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,724 shares of company stock valued at $8,764,043 in the last ninety days. 38.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DLB. Tigress Financial began coverage on Dolby Laboratories in a report on Thursday, May 15th. They issued a "buy" rating and a $112.00 target price on the stock. Wall Street Zen upgraded Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Rosenblatt Securities reiterated a "buy" rating and issued a $95.00 target price on shares of Dolby Laboratories in a report on Friday. Finally, Barrington Research reiterated an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Friday, May 2nd.

Dolby Laboratories Stock Down 5.9%

NYSE:DLB traded down $4.41 during trading hours on Friday, hitting $70.93. 455,218 shares of the company traded hands, compared to its average volume of 427,263. The firm's 50-day simple moving average is $75.01 and its 200-day simple moving average is $77.66. Dolby Laboratories has a one year low of $66.35 and a one year high of $89.66. The company has a market cap of $6.81 billion, a PE ratio of 26.72 and a beta of 0.91.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. Dolby Laboratories had a return on equity of 11.48% and a net margin of 19.44%. The business had revenue of $315.55 million for the quarter, compared to analysts' expectations of $305.23 million. During the same period last year, the business earned $0.71 EPS. The business's revenue was up 9.2% on a year-over-year basis. As a group, equities research analysts expect that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.9%. Dolby Laboratories's dividend payout ratio is presently 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.