Squarepoint Ops LLC Purchases 136,465 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Squarepoint Ops LLC increased its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 247.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 191,675 shares of the electronics maker's stock after buying an additional 136,465 shares during the period. Squarepoint Ops LLC owned about 0.20% of Dolby Laboratories worth $14,970,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Dolby Laboratories by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker's stock worth $549,325,000 after acquiring an additional 68,771 shares during the last quarter. Bank of New York Mellon Corp grew its position in Dolby Laboratories by 64.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock worth $376,948,000 after purchasing an additional 1,887,518 shares during the last quarter. Boston Trust Walden Corp increased its stake in shares of Dolby Laboratories by 0.9% in the fourth quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker's stock valued at $84,715,000 after purchasing an additional 9,624 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Dolby Laboratories by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 901,707 shares of the electronics maker's stock valued at $70,424,000 after buying an additional 31,164 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Dolby Laboratories by 0.9% during the fourth quarter. First Trust Advisors LP now owns 794,772 shares of the electronics maker's stock worth $62,072,000 after buying an additional 7,265 shares during the period. Institutional investors own 58.56% of the company's stock.

Dolby Laboratories Stock Performance

NYSE DLB traded up $0.65 on Tuesday, reaching $75.32. The company's stock had a trading volume of 165,324 shares, compared to its average volume of 458,356. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66. The firm's 50 day moving average is $75.86 and its two-hundred day moving average is $78.60. The stock has a market cap of $7.24 billion, a PE ratio of 27.69 and a beta of 0.95.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its earnings results on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, beating the consensus estimate of $1.29 by $0.05. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The business had revenue of $369.56 million during the quarter, compared to analyst estimates of $375.44 million. During the same period in the prior year, the business earned $1.27 earnings per share. The business's quarterly revenue was up 1.4% on a year-over-year basis. Equities research analysts anticipate that Dolby Laboratories, Inc. will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th were paid 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 yield of 1.75%. Dolby Laboratories's dividend payout ratio is currently 49.81%.

Insiders Place Their Bets

In other news, SVP John D. Couling sold 675 shares of Dolby Laboratories stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $75.04, for a total value of $50,652.00. Following the transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 38.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DLB shares. Wall Street Zen downgraded Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st. Tigress Financial started coverage on shares of Dolby Laboratories in a research note on Thursday, May 15th. They set a "buy" rating and a $112.00 price objective on the stock. Rosenblatt Securities reduced their price objective on shares of Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, 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.

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.