Handelsbanken Fonder AB Raises Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Handelsbanken Fonder AB raised its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 30.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,616 shares of the electronics maker's stock after acquiring an additional 5,000 shares during the period. Handelsbanken Fonder AB's holdings in Dolby Laboratories were worth $1,736,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DLB. Vanguard Group Inc. grew its holdings in shares of Dolby Laboratories by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker's stock valued at $549,325,000 after purchasing an additional 68,771 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Dolby Laboratories by 64.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock worth $376,948,000 after purchasing an additional 1,887,518 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Dolby Laboratories by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 901,707 shares of the electronics maker's stock valued at $70,424,000 after buying an additional 31,164 shares during the period. First Trust Advisors LP grew its stake in shares of Dolby Laboratories by 0.9% during the fourth quarter. First Trust Advisors LP now owns 794,772 shares of the electronics maker's stock valued at $62,072,000 after buying an additional 7,265 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Dolby Laboratories by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 742,639 shares of the electronics maker's stock worth $58,000,000 after buying an additional 25,047 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Performance

NYSE DLB opened at $73.97 on Friday. The stock has a market cap of $7.11 billion, a P/E ratio of 27.19 and a beta of 0.93. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66. The stock has a 50 day simple moving average of $74.82 and a two-hundred day simple moving average of $78.45.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced 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 company had revenue of $369.56 million during the quarter, compared to analyst estimates of $375.44 million. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The firm's revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 earnings per share. Sell-side analysts predict that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories's dividend payout ratio is currently 49.81%.

Insider Transactions at Dolby Laboratories

In other news, SVP John D. Couling sold 675 shares of Dolby Laboratories stock in a transaction that occurred on 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 in the company, valued at approximately $9,091,171.04. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Andrew Sherman sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $75.02, for a total value of $1,125,300.00. Following the completion of the sale, the executive vice president now owns 62,397 shares in the company, valued at $4,681,022.94. The trade was a 19.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,358 shares of company stock valued at $3,743,270. Corporate insiders own 38.39% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on DLB. Tigress Financial initiated coverage on Dolby Laboratories in a report on Thursday, May 15th. They set a "buy" rating and a $112.00 target price for the company. 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. Wall Street Zen raised shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $95.00 price target on shares of Dolby Laboratories in a research report on Friday.

About Dolby Laboratories

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.

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