Squarepoint Ops LLC Raises Position in Dolby Laboratories, Inc. (NYSE:DLB)

Squarepoint Ops LLC boosted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 247.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 191,675 shares of the electronics maker's stock after acquiring an additional 136,465 shares during the quarter. Squarepoint Ops LLC owned about 0.20% of Dolby Laboratories worth $14,970,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Savant Capital LLC grew its stake in shares of Dolby Laboratories by 2.0% in the fourth quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker's stock valued at $490,000 after buying an additional 125 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Dolby Laboratories by 0.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker's stock valued at $1,525,000 after buying an additional 132 shares in the last quarter. Mather Group LLC. grew its stake in shares of Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after buying an additional 142 shares in the last quarter. Naples Global Advisors LLC grew its stake in shares of Dolby Laboratories by 0.4% in the fourth quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker's stock valued at $2,791,000 after buying an additional 160 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Dolby Laboratories by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock valued at $28,000 after buying an additional 163 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 Dolby Laboratories news, SVP John D. Couling sold 675 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $75.04, for a total transaction of $50,652.00. Following the transaction, the senior vice president now owns 121,151 shares of the company's stock, valued at $9,091,171.04. This represents a 0.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 38.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on DLB shares. Barrington Research reissued an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Friday, May 2nd. Tigress Financial started coverage on Dolby Laboratories in a research note on Thursday, May 15th. They set a "buy" rating and a $112.00 target price for the company. Rosenblatt Securities lowered their target price on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Wall Street Zen cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

Dolby Laboratories Stock Down 0.5%

DLB stock traded down $0.39 during trading on Wednesday, hitting $75.14. The company had a trading volume of 41,552 shares, compared to its average volume of 450,001. The firm has a market cap of $7.22 billion, a PE ratio of 27.62 and a beta of 0.95. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The firm has a 50-day moving average price of $75.73 and a 200-day moving average price of $78.58.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released 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. The company had revenue of $369.56 million for the quarter, compared to analysts' expectations of $375.44 million. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The firm's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 EPS. Sell-side analysts anticipate that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The business also recently announced 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 1.76%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories's dividend payout ratio (DPR) is presently 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.