Two Sigma Investments LP Sells 32,612 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Two Sigma Investments LP lowered its position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 72.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,328 shares of the electronics maker's stock after selling 32,612 shares during the period. Two Sigma Investments LP's holdings in Dolby Laboratories were worth $963,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DLB. Allspring Global Investments Holdings LLC raised its position in Dolby Laboratories by 10,441,900.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker's stock worth $8,123,000 after purchasing an additional 104,419 shares during the last quarter. Barclays PLC raised its position in Dolby Laboratories by 80.5% during the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker's stock worth $2,544,000 after purchasing an additional 14,825 shares during the last quarter. AlphaQuest LLC raised its position in Dolby Laboratories by 111.1% during the 4th quarter. AlphaQuest LLC now owns 6,148 shares of the electronics maker's stock worth $480,000 after purchasing an additional 3,235 shares during the last quarter. Twin Tree Management LP bought a new position in Dolby Laboratories during the 4th quarter worth $662,000. Finally, Raymond James Financial Inc. bought a new position in Dolby Laboratories during the 4th quarter worth $1,872,000. Institutional investors own 58.56% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on DLB shares. Tigress Financial started coverage on shares of Dolby Laboratories in a research report on Thursday, May 15th. They set a "buy" rating and a $112.00 price target on the stock. Wall Street Zen raised shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Friday, May 2nd. Finally, 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.

Insider Activity at Dolby Laboratories

In related news, SVP John D. Couling sold 675 shares of Dolby Laboratories 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 completion of the sale, the senior vice president now owns 121,151 shares of the company's stock, valued at approximately $9,091,171.04. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Andrew Sherman sold 15,000 shares of Dolby Laboratories 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 sale, the executive vice president now directly owns 62,397 shares of the company's stock, valued at $4,681,022.94. This represents a 19.38% decrease in their position. The disclosure for this sale can be found here. 38.39% of the stock is currently owned by corporate insiders.

Dolby Laboratories Trading Up 0.8%

Shares of DLB stock traded up $0.58 on Monday, hitting $75.54. 238,695 shares of the stock were exchanged, compared to its average volume of 451,691. The firm has a market capitalization of $7.26 billion, a PE ratio of 27.77 and a beta of 0.93. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66. The firm's 50 day moving average is $74.60 and its two-hundred day moving average is $78.57.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.05. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The company had revenue of $369.56 million for the quarter, compared to analysts' expectations of $375.44 million. During the same period in the prior year, the company posted $1.27 EPS. Dolby Laboratories's revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts expect that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, May 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.75%. Dolby Laboratories's payout ratio is 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.