Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC trimmed its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 26.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,379 shares of the electronics maker's stock after selling 74,729 shares during the quarter. Voloridge Investment Management LLC owned about 0.21% of Dolby Laboratories worth $15,962,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

DLB has been the topic of several research reports. Barrington Research reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, May 2nd. Tigress Financial began coverage on shares of Dolby Laboratories in a research note on Thursday, May 15th. They set a "buy" rating and a $112.00 target price for the company. Rosenblatt Securities dropped their target price 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, Wall Street Zen downgraded shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st.

Insider Transactions at Dolby Laboratories

In related news, SVP John D. Couling sold 675 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $75.04, for a total transaction of $50,652.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 38.39% of the company's stock.

Dolby Laboratories Stock Down 0.2%

DLB stock traded down $0.19 during trading on Thursday, hitting $74.46. 68,079 shares of the company's stock traded hands, compared to its average volume of 450,650. The firm has a market capitalization of $7.15 billion, a P/E ratio of 27.35 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 business has a fifty day simple moving average of $75.60 and a two-hundred day simple moving average of $78.55.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.05. The company had revenue of $369.56 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $1.27 earnings per share. On average, equities research analysts predict that Dolby Laboratories, Inc. will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders 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 annualized dividend and a yield of 1.77%. Dolby Laboratories's dividend payout ratio (DPR) is 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.