Two Sigma Advisers LP Grows Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Two Sigma Advisers LP increased its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 20.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,500 shares of the electronics maker's stock after acquiring an additional 5,000 shares during the quarter. Two Sigma Advisers LP's holdings in Dolby Laboratories were worth $2,304,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 163 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 301 shares during the period. Mather Group LLC. increased its holdings in shares of Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after acquiring an additional 142 shares during the period. Headlands Technologies LLC acquired a new position in shares of Dolby Laboratories in the 4th quarter valued at $57,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Dolby Laboratories in the 4th quarter valued at $71,000. 58.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Dolby Laboratories news, SVP John D. Couling sold 675 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $75.04, for a total transaction of $50,652.00. Following the sale, the senior vice president now directly owns 121,151 shares in the company, valued at approximately $9,091,171.04. The trade was a 0.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 38.39% of the company's stock.

Dolby Laboratories Stock Performance

DLB traded down $0.35 during trading on Monday, hitting $73.91. The stock had a trading volume of 295,690 shares, compared to its average volume of 452,646. The firm has a market capitalization of $7.10 billion, a P/E ratio of 27.17 and a beta of 0.95. The company's 50-day moving average price is $75.17 and its 200 day moving average price is $78.64. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, beating 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 net margin of 19.97% and a return on equity of 11.32%. Dolby Laboratories's revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 EPS. As a group, equities analysts expect that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current fiscal 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 given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.79%. Dolby Laboratories's payout ratio is currently 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.