SG Americas Securities LLC Sells 40,669 Shares of Dolby Laboratories (NYSE:DLB)

SG Americas Securities LLC lessened its holdings in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 89.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,692 shares of the electronics maker's stock after selling 40,669 shares during the period. SG Americas Securities LLC's holdings in Dolby Laboratories were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Dolby Laboratories by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker's stock valued at $549,325,000 after purchasing an additional 68,771 shares in the last quarter. Bank of New York Mellon Corp raised its position in 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 worth $376,948,000 after acquiring an additional 1,887,518 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Dolby Laboratories by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 901,707 shares of the electronics maker's stock worth $70,424,000 after purchasing an additional 31,164 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Dolby Laboratories by 0.9% in the 4th quarter. First Trust Advisors LP now owns 794,772 shares of the electronics maker's stock worth $62,072,000 after purchasing an additional 7,265 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Dolby Laboratories by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 742,639 shares of the electronics maker's stock valued at $58,000,000 after buying an additional 25,047 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Insider Buying and Selling at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 15,000 shares of the firm's stock in a transaction on 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 sale, the executive vice president now owns 62,397 shares in the company, valued at approximately $4,681,022.94. This trade represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin J. Yeaman sold 33,683 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $76.22, for a total transaction of $2,567,318.26. Following the transaction, the chief executive officer now owns 114,725 shares of the company's stock, valued at approximately $8,744,339.50. The trade was a 22.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,358 shares of company stock worth $3,743,270 over the last ninety days. Company insiders own 38.39% of the company's stock.

Wall Street Analysts Forecast Growth

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

Dolby Laboratories Price Performance

DLB traded down $0.04 on Wednesday, hitting $74.12. The company had a trading volume of 422,402 shares, compared to its average volume of 452,677. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 27.97 and a beta of 0.93. The company's fifty day moving average price is $74.88 and its 200 day moving average price is $78.17. Dolby Laboratories has a 1-year low of $66.35 and a 1-year high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.05. The company had revenue of $369.56 million for the quarter, compared to analyst estimates of $375.44 million. Dolby Laboratories had a net margin of 19.44% and a return on equity of 11.48%. The company's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.27 earnings per share. On average, sell-side analysts forecast that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Tuesday, May 13th. Dolby Laboratories's dividend payout ratio (DPR) is 49.81%.

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.