Oak Thistle LLC Takes $1.36 Million Position in Dolby Laboratories (NYSE:DLB)

Oak Thistle LLC acquired a new position in shares of Dolby Laboratories (NYSE:DLB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,879 shares of the electronics maker's stock, valued at approximately $1,356,000.

Other institutional investors also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Dolby Laboratories during the 1st quarter worth about $25,000. Global X Japan Co. Ltd. bought a new stake in Dolby Laboratories in the 1st quarter valued at about $51,000. Fifth Third Bancorp boosted 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 valued at $53,000 after purchasing an additional 305 shares during the period. UMB Bank n.a. boosted 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 valued at $56,000 after purchasing an additional 440 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Dolby Laboratories in the 4th quarter valued at about $57,000. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DLB has been the subject of a number of recent research reports. Tigress Financial initiated coverage on shares of Dolby Laboratories in a report on Thursday, May 15th. They issued a "buy" rating and a $112.00 price objective for the company. Barrington Research reissued an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Friday, May 2nd. Rosenblatt Securities restated a "buy" rating and issued a $95.00 target price on shares of Dolby Laboratories in a research report on Friday, June 13th. Finally, Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, May 30th.

Dolby Laboratories Stock Down 0.0%

NYSE DLB traded down $0.01 on Friday, hitting $76.32. The company's stock had a trading volume of 209,957 shares, compared to its average volume of 310,830. Dolby Laboratories has a 1-year low of $66.35 and a 1-year high of $89.66. The company's 50-day moving average is $75.04 and its 200 day moving average is $77.70. The firm has a market cap of $7.33 billion, a PE ratio of 28.80 and a beta of 0.91.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.05. Dolby Laboratories had a net margin of 19.44% and a return on equity of 11.48%. The business had revenue of $369.56 million for the quarter, compared to analyst estimates of $375.44 million. During the same period in the prior year, the firm earned $1.27 earnings per share. Dolby Laboratories's revenue was up 1.4% on a year-over-year basis. On average, equities analysts expect that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th were paid a $0.33 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.73%. Dolby Laboratories's payout ratio is 49.81%.

Insider Transactions 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 sale, the senior vice president directly owned 121,151 shares in the company, valued at approximately $9,091,171.04. The trade was a 0.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Andrew Sherman sold 15,000 shares of the business'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 transaction of $1,125,300.00. Following the completion of the sale, the executive vice president owned 62,397 shares of the company's stock, valued at approximately $4,681,022.94. The trade was a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,724 shares of company stock worth $8,764,043 over the last quarter. Corporate insiders own 38.39% of the company's stock.

Dolby Laboratories 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.