Teza Capital Management LLC Invests $588,000 in Dolby Laboratories, Inc. (NYSE:DLB)

Teza Capital Management LLC bought a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,529 shares of the electronics maker's stock, valued at approximately $588,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Dolby Laboratories by 1.0% in 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 valued at $376,948,000 after purchasing an additional 1,887,518 shares in the last quarter. Boston Trust Walden Corp lifted its holdings 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Dolby Laboratories by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 901,707 shares of the electronics maker's stock valued at $70,424,000 after purchasing an additional 31,164 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Dolby Laboratories by 0.9% in the fourth quarter. First Trust Advisors LP now owns 794,772 shares of the electronics maker's stock valued at $62,072,000 after purchasing an additional 7,265 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Wall Street Analysts Forecast Growth

DLB has been the topic of a number of recent research reports. Wall Street Zen lowered Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st. Tigress Financial initiated coverage on Dolby Laboratories in a report on Thursday, May 15th. They issued a "buy" rating and a $112.00 target price on the stock. Barrington Research restated an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Friday, May 2nd. Finally, Rosenblatt Securities dropped their target price on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, May 2nd.

Insiders Place Their Bets

In other Dolby Laboratories news, SVP John D. Couling sold 675 shares of Dolby Laboratories 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 now owns 121,151 shares of the company's stock, valued at $9,091,171.04. The trade was a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 38.39% of the company's stock.

Dolby Laboratories Trading Down 1.1%

Shares of NYSE DLB traded down $0.83 during mid-day trading on Friday, hitting $74.74. The company had a trading volume of 324,323 shares, compared to its average volume of 451,966. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 27.48 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 stock's 50-day moving average price is $76.01 and its 200-day moving average price is $78.58.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its earnings results on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, topping the consensus estimate of $1.29 by $0.05. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The business had revenue of $369.56 million during the quarter, compared to analysts' expectations of $375.44 million. During the same period in the previous year, the business earned $1.27 earnings per share. The firm's revenue was up 1.4% on a year-over-year basis. As a group, equities research analysts forecast that Dolby Laboratories, Inc. will post 2.94 earnings per share 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 paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.77%. The ex-dividend date was Tuesday, May 13th. Dolby Laboratories's dividend payout ratio (DPR) is currently 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.