Dolby Laboratories, Inc. (NYSE:DLB) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 10.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 275,667 shares of the electronics maker's stock after purchasing an additional 25,546 shares during the period. Rhumbline Advisers owned approximately 0.29% of Dolby Laboratories worth $22,139,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Savant Capital LLC grew its position in shares of Dolby Laboratories by 2.0% during the 4th quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker's stock valued at $490,000 after acquiring an additional 125 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Dolby Laboratories by 0.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker's stock worth $1,525,000 after buying an additional 132 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock worth $41,000 after buying an additional 142 shares during the last quarter. Naples Global Advisors LLC grew its holdings in shares of Dolby Laboratories by 0.4% during the 4th quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker's stock valued at $2,791,000 after purchasing an additional 160 shares during the last quarter. Finally, Synovus Financial Corp grew its holdings in shares of Dolby Laboratories by 0.5% during the 4th quarter. Synovus Financial Corp now owns 32,235 shares of the electronics maker's stock valued at $2,518,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Dolby Laboratories Stock Up 0.8%

DLB traded up $0.58 on Monday, reaching $75.54. 238,695 shares of the company traded hands, compared to its average volume of 451,691. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66. The company has a market cap of $7.26 billion, a P/E ratio of 27.77 and a beta of 0.93. The firm has a fifty day simple moving average of $74.60 and a two-hundred day simple moving average of $78.57.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.05. The firm had revenue of $369.56 million for the quarter, compared to the consensus estimate of $375.44 million. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The company's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.27 EPS. On average, equities analysts forecast that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th were issued a $0.33 dividend. This represents a $1.32 annualized dividend 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 currently 49.81%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DLB shares. Rosenblatt Securities cut their price target on shares of Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Tigress Financial initiated coverage on shares of Dolby Laboratories in a research note on Thursday, May 15th. They issued a "buy" rating and a $112.00 target price on the stock. Wall Street Zen raised shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Barrington Research restated an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, May 2nd.

Insider Activity

In other news, EVP Mark Andrew Sherman sold 15,000 shares of the 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 sale, the executive vice president now directly owns 62,397 shares in the company, valued at $4,681,022.94. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John D. Couling sold 675 shares of the stock in a transaction dated Monday, May 5th. The shares were 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 now owns 121,151 shares of the company's stock, valued at $9,091,171.04. This trade represents a 0.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 38.39% of the company's stock.

About Dolby Laboratories

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.