Dolby Laboratories, Inc. (NYSE:DLB) Position Trimmed by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 973,427 shares of the electronics maker's stock after selling 12,326 shares during the quarter. Mackenzie Financial Corp owned approximately 1.02% of Dolby Laboratories worth $76,025,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DLB. Fifth Third Bancorp grew its holdings in Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock valued at $28,000 after buying an additional 163 shares during the period. Nisa Investment Advisors LLC grew its holdings in Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after buying an additional 301 shares during the period. Mather Group LLC. grew its holdings in Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after buying an additional 142 shares during the period. Headlands Technologies LLC purchased a new stake in Dolby Laboratories in the 4th quarter valued at about $57,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Dolby Laboratories in the 4th quarter valued at about $71,000. Hedge funds and other institutional investors own 58.56% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DLB shares. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, May 2nd. Tigress Financial assumed coverage on Dolby Laboratories in a research note on Thursday, May 15th. They issued a "buy" rating and a $112.00 price objective on the stock. Rosenblatt Securities reduced their price target on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Wall Street Zen lowered Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st.

Dolby Laboratories Price Performance

Dolby Laboratories stock traded down $0.90 during midday trading on Friday, hitting $74.10. 64,667 shares of the company were exchanged, compared to its average volume of 451,315. The company's fifty day moving average price is $75.47 and its 200-day moving average price is $78.55. The company has a market cap of $7.12 billion, a PE ratio of 27.23 and a beta of 0.95. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its earnings results on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, beating the consensus estimate of $1.29 by $0.05. The company had revenue of $369.56 million during the quarter, compared to analysts' expectations of $375.44 million. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The business's revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 EPS. On average, analysts expect that Dolby Laboratories, Inc. will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

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

Insider Activity at Dolby Laboratories

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 sale, the senior vice president now directly owns 121,151 shares of the company's stock, valued at $9,091,171.04. This represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 38.39% of the stock is currently owned by corporate 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.