Mackenzie Financial Corp Cuts Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Mackenzie Financial Corp decreased its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 973,427 shares of the electronics maker's stock after selling 12,326 shares during the period. Mackenzie Financial Corp owned approximately 1.02% of Dolby Laboratories worth $76,025,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $376,948,000 after buying an additional 1,887,518 shares in the last quarter. Norges Bank acquired a new stake in Dolby Laboratories in the fourth quarter valued at $55,356,000. Alyeska Investment Group L.P. purchased a new stake in shares of Dolby Laboratories during the 4th quarter worth $27,314,000. Frontier Capital Management Co. LLC acquired a new position in shares of Dolby Laboratories during the 4th quarter worth $24,323,000. Finally, Oberweis Asset Management Inc. acquired a new position in shares of Dolby Laboratories during the 4th quarter worth $14,136,000. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Up 0.4%

Shares of Dolby Laboratories stock traded up $0.27 during trading on Thursday, hitting $74.91. 370,980 shares of the company were exchanged, compared to its average volume of 451,824. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66. The firm has a 50 day moving average price of $75.60 and a 200 day moving average price of $78.55. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 27.54 and a beta of 0.95.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.05. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The company had revenue of $369.56 million during the quarter, compared to the consensus estimate of $375.44 million. During the same quarter last year, the business posted $1.27 earnings per share. Dolby Laboratories's revenue was up 1.4% compared to the same quarter last year. 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. Investors of record on Tuesday, May 13th were paid a $0.33 dividend. 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%.

Analysts Set New Price Targets

A number of research firms recently commented on DLB. Wall Street Zen downgraded shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st. 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 price target for the company. Rosenblatt Securities decreased their price target on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Barrington Research restated an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Friday, May 2nd.

Insider Buying and Selling at Dolby Laboratories

In other news, SVP John D. Couling sold 675 shares of the business's stock in a transaction that occurred 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 owns 121,151 shares of the company's stock, valued at $9,091,171.04. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 38.39% of the stock is owned by insiders.

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.