Dolby Laboratories (NYSE:DLB) Shares Purchased by South Dakota Investment Council

South Dakota Investment Council increased its position in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 103.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,405 shares of the electronics maker's stock after acquiring an additional 9,366 shares during the quarter. South Dakota Investment Council's holdings in Dolby Laboratories were worth $1,478,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Jackson Creek Investment Advisors LLC bought a new position in shares of Dolby Laboratories during the 1st quarter worth approximately $548,000. Securian Asset Management Inc. boosted its holdings in shares of Dolby Laboratories by 3.0% in the 1st quarter. Securian Asset Management Inc. now owns 4,648 shares of the electronics maker's stock valued at $373,000 after acquiring an additional 137 shares during the last quarter. CWM LLC boosted its holdings in shares of Dolby Laboratories by 269.5% in the 1st quarter. CWM LLC now owns 13,785 shares of the electronics maker's stock valued at $1,107,000 after acquiring an additional 10,054 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Dolby Laboratories by 3.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the electronics maker's stock valued at $1,373,000 after acquiring an additional 500 shares during the last quarter. Finally, State of Michigan Retirement System boosted its holdings in Dolby Laboratories by 3.5% during the first quarter. State of Michigan Retirement System now owns 14,600 shares of the electronics maker's stock worth $1,173,000 after buying an additional 500 shares in the last quarter. Institutional investors own 58.56% of the company's stock.

Analyst Upgrades and Downgrades

DLB has been the topic of a number of recent analyst reports. Tigress Financial initiated coverage on shares of Dolby Laboratories in a report on Thursday, May 15th. They set a "buy" rating and a $112.00 price target on the stock. Rosenblatt Securities restated a "buy" rating and set a $95.00 price objective on shares of Dolby Laboratories in a research report on Friday, June 13th. 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. 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.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 15,000 shares of the business'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 transaction, the executive vice president directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John D. Couling sold 675 shares of the business's stock in a transaction dated Monday, May 5th. The stock was 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 owned 121,151 shares in the company, valued at $9,091,171.04. This represents a 0.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,724 shares of company stock valued at $8,764,043. 38.39% of the stock is owned by company insiders.

Dolby Laboratories Price Performance

Shares of NYSE DLB traded down $0.42 during midday trading on Thursday, hitting $76.38. The company's stock had a trading volume of 63,894 shares, compared to its average volume of 429,266. The business's fifty day simple moving average is $75.09 and its two-hundred day simple moving average is $77.73. Dolby Laboratories has a 1 year low of $66.35 and a 1 year high of $89.66. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 28.81 and a beta of 0.91.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $369.56 million during 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 business's revenue for the quarter 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. Analysts anticipate that Dolby Laboratories will post 2.94 EPS for the current fiscal 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 issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.73%. Dolby Laboratories's payout ratio is 49.81%.

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.