Vest Financial LLC Makes New $908,000 Investment in Dolby Laboratories, Inc. (NYSE:DLB)

Vest Financial LLC purchased a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,302 shares of the electronics maker's stock, valued at approximately $908,000.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted 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 acquiring an additional 104,419 shares during the last quarter. Barclays PLC boosted 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 acquiring an additional 14,825 shares during the last quarter. AlphaQuest LLC boosted 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 acquiring an additional 3,235 shares during the last quarter. Vise Technologies Inc. acquired a new position in Dolby Laboratories during the 4th quarter worth approximately $308,000. Finally, Twin Tree Management LP acquired a new stake in shares of Dolby Laboratories in the 4th quarter valued at approximately $662,000. Institutional investors and hedge funds own 58.56% of the company's stock.

Dolby Laboratories Stock Performance

DLB traded down $1.26 during trading hours on Wednesday, reaching $75.23. The company's stock had a trading volume of 313,822 shares, compared to its average volume of 452,133. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66. The company's 50-day moving average is $74.63 and its 200-day moving average is $78.53. The firm has a market cap of $7.23 billion, a PE ratio of 27.66 and a beta of 0.93.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $375.44 million. During the same quarter in the prior year, the business earned $1.27 EPS. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts anticipate that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The firm 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. This represents a $1.32 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories's dividend payout ratio (DPR) is presently 49.81%.

Analysts Set New Price Targets

Several research firms have recently commented on DLB. Rosenblatt Securities cut their price objective on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Tigress Financial began coverage on Dolby Laboratories in a report on Thursday, May 15th. They issued a "buy" rating and a $112.00 price objective for the company. Wall Street Zen raised Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Barrington Research reissued an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Friday, May 2nd.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 15,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $75.02, for a total transaction of $1,125,300.00. Following the transaction, the executive vice president now owns 62,397 shares in the company, valued at $4,681,022.94. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $50,652.00. Following the transaction, the senior vice president now owns 121,151 shares in the company, valued at $9,091,171.04. The trade was a 0.55% decrease in their position. The disclosure for this sale can be found here. 38.39% of the stock is owned by company insiders.

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.