Oak Thistle LLC Purchases Shares of 25,184 Dolby Laboratories $DLB

Key Points

• Oak Thistle LLC acquired a new position of 25,184 shares of Dolby Laboratories (NYSE:DLB) in Q4, valued at approximately $1.62 million.
• Institutional investors own 58.56% of Dolby stock while company insiders hold 37.93%; recent insider sales included CAO Ryan Nicholson (2,667 shares) and SVP Shriram Revankar (3,000 shares), modestly reducing their stakes.
• Analysts are mixed but the consensus is a "Moderate Buy" with a target of $90.75; Dolby recently beat Q4 EPS estimates ($1.06 vs. $0.99), reported revenue of $346.7 million (down 2.8% YoY), and pays a 2.3% dividend yield.

Oak Thistle LLC acquired a new position in Dolby Laboratories (NYSE:DLB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 25,184 shares of the electronics maker's stock, valued at approximately $1,617,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Dolby Laboratories in the 3rd quarter valued at $615,000. Alps Advisors Inc. raised its holdings in shares of Dolby Laboratories by 6.7% during the third quarter. Alps Advisors Inc. now owns 281,532 shares of the electronics maker's stock worth $20,374,000 after purchasing an additional 17,592 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Dolby Laboratories by 81.3% during the third quarter. JPMorgan Chase & Co. now owns 312,028 shares of the electronics maker's stock worth $22,582,000 after purchasing an additional 139,900 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Dolby Laboratories by 787.1% during the third quarter. Meeder Asset Management Inc. now owns 27,526 shares of the electronics maker's stock worth $1,992,000 after purchasing an additional 24,423 shares during the last quarter. Finally, Summit Creek Advisors LLC lifted its position in Dolby Laboratories by 24.9% during the third quarter. Summit Creek Advisors LLC now owns 125,034 shares of the electronics maker's stock valued at $9,049,000 after purchasing an additional 24,905 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, CAO Ryan Nicholson sold 2,667 shares of the firm's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $66.38, for a total value of $177,035.46. Following the sale, the chief accounting officer directly owned 36,956 shares of the company's stock, valued at approximately $2,453,139.28. This trade represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Shriram Revankar sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $66.14, for a total value of $198,420.00. Following the completion of the sale, the senior vice president owned 83,218 shares of the company's stock, valued at $5,504,038.52. This trade represents a 3.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 37.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on DLB shares. Wall Street Zen lowered shares of Dolby Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Rosenblatt Securities reissued a "buy" rating and issued a $85.00 price objective on shares of Dolby Laboratories in a report on Friday, January 30th. Barrington Research lowered their target price on Dolby Laboratories from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Monday, January 26th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Dolby Laboratories in a report on Friday, March 27th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.75.

Dolby Laboratories Stock Performance

DLB stock opened at $61.49 on Thursday. The firm has a market cap of $5.87 billion, a PE ratio of 24.79 and a beta of 0.86. The firm's fifty day moving average is $63.15 and its 200 day moving average is $65.42. Dolby Laboratories has a one year low of $57.62 and a one year high of $78.28.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The electronics maker reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.07. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The business had revenue of $346.71 million during the quarter, compared to the consensus estimate of $341.26 million. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The company's revenue was down 2.8% compared to the same quarter last year. Research analysts predict that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a yield of 2.3%. Dolby Laboratories's dividend payout ratio is currently 58.06%.

Dolby Laboratories Profile

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company's core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby's licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.