Jackson Creek Investment Advisors LLC Invests $548,000 in Dolby Laboratories (NYSE:DLB)

Jackson Creek Investment Advisors LLC acquired a new stake in shares of Dolby Laboratories (NYSE:DLB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,826 shares of the electronics maker's stock, valued at approximately $548,000.

Other hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in Dolby Laboratories in the 1st quarter worth approximately $25,000. Global X Japan Co. Ltd. acquired a new position in Dolby Laboratories in the 1st quarter worth approximately $51,000. Fifth Third Bancorp increased its holdings in Dolby Laboratories by 84.7% in the 1st quarter. Fifth Third Bancorp now owns 665 shares of the electronics maker's stock worth $53,000 after buying an additional 305 shares during the period. UMB Bank n.a. increased its holdings in Dolby Laboratories by 170.5% in the 1st quarter. UMB Bank n.a. now owns 698 shares of the electronics maker's stock worth $56,000 after buying an additional 440 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Dolby Laboratories in the 4th quarter worth approximately $57,000. Institutional investors and hedge funds own 58.56% of the company's stock.

Insider Buying and Selling

In related news, SVP John D. Couling sold 675 shares of the firm's stock in a transaction dated 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 approximately $9,091,171.04. This trade represents a 0.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Andrew Sherman sold 15,000 shares of Dolby Laboratories stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $75.02, for a total value of $1,125,300.00. Following the completion of the transaction, the executive vice president directly owned 62,397 shares of the company's stock, valued at approximately $4,681,022.94. This represents 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 116,724 shares of company stock valued at $8,764,043. 38.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $95.00 price objective on shares of Dolby Laboratories in a research note on Friday, June 13th. Barrington Research reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, May 2nd. Tigress Financial assumed coverage on shares of Dolby Laboratories in a research note on Thursday, May 15th. They set a "buy" rating and a $112.00 price objective on the stock. Finally, Wall Street Zen raised shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, May 30th.

Dolby Laboratories Trading Down 0.4%

DLB stock traded down $0.27 during midday trading on Friday, reaching $75.35. The stock had a trading volume of 246,184 shares, compared to its average volume of 451,197. The company's fifty day simple moving average is $75.16 and its 200 day simple moving average is $77.76. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 28.43 and a beta of 0.91. Dolby Laboratories has a 52-week low of $66.35 and a 52-week high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.05. Dolby Laboratories had a return on equity of 11.48% and a net margin of 19.44%. The company had revenue of $369.56 million for the quarter, compared to analyst estimates of $375.44 million. During the same quarter last year, the firm posted $1.27 EPS. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts predict that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 13th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories's dividend payout ratio (DPR) 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.