Wealth Enhancement Advisory Services LLC Has $975,000 Stock Position in Dolby Laboratories (NYSE:DLB)

Wealth Enhancement Advisory Services LLC lifted its stake in Dolby Laboratories (NYSE:DLB - Free Report) by 114.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,141 shares of the electronics maker's stock after acquiring an additional 6,484 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Dolby Laboratories were worth $975,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Willis Investment Counsel increased its holdings in shares of Dolby Laboratories by 9.5% during the 1st quarter. Willis Investment Counsel now owns 6,743 shares of the electronics maker's stock worth $542,000 after purchasing an additional 586 shares during the period. Net Worth Advisory Group lifted its position in shares of Dolby Laboratories by 5.2% in the 1st quarter. Net Worth Advisory Group now owns 3,591 shares of the electronics maker's stock worth $288,000 after acquiring an additional 178 shares during the period. Fifth Third Bancorp increased its position in shares of Dolby Laboratories by 84.7% during the first quarter. Fifth Third Bancorp now owns 665 shares of the electronics maker's stock valued at $53,000 after purchasing an additional 305 shares during the period. Handelsbanken Fonder AB increased its position in shares of Dolby Laboratories by 30.1% during the first quarter. Handelsbanken Fonder AB now owns 21,616 shares of the electronics maker's stock valued at $1,736,000 after purchasing an additional 5,000 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Dolby Laboratories by 65.9% in the first quarter. GAMMA Investing LLC now owns 1,291 shares of the electronics maker's stock valued at $104,000 after purchasing an additional 513 shares in the last quarter. Institutional investors own 58.56% of the company's stock.

Dolby Laboratories Price Performance

Shares of DLB traded up $0.50 on Wednesday, hitting $76.07. The company's stock had a trading volume of 311,465 shares, compared to its average volume of 445,626. The company has a market capitalization of $7.31 billion, a PE ratio of 28.71 and a beta of 0.91. Dolby Laboratories has a fifty-two week low of $66.35 and a fifty-two week high of $89.66. The company has a 50 day moving average price of $75.15 and a 200 day moving average price of $78.00.

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 analysts' consensus estimates of $1.29 by $0.05. The company had revenue of $369.56 million during the quarter, compared to analyst estimates of $375.44 million. Dolby Laboratories had a return on equity of 11.48% and a net margin of 19.44%. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company posted $1.27 earnings per share. On average, equities analysts forecast that Dolby Laboratories will post 2.94 EPS 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 given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories's dividend payout ratio (DPR) is presently 49.81%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Rosenblatt Securities reissued a "buy" rating and issued a $95.00 price target on shares of Dolby Laboratories in a research report on Friday, June 13th. Barrington Research reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Friday, May 2nd. Finally, Tigress Financial assumed coverage on Dolby Laboratories in a research report on Thursday, May 15th. They set a "buy" rating and a $112.00 target price for the company.

Insiders Place Their Bets

In other 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 value of $50,652.00. Following the completion of the sale, the senior vice president directly owned 121,151 shares of the company's stock, valued at approximately $9,091,171.04. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin J. Yeaman sold 33,683 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $76.22, for a total value of $2,567,318.26. Following the transaction, the chief executive officer directly owned 114,725 shares in the company, valued at $8,744,339.50. This trade represents a 22.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,358 shares of company stock valued at $5,593,770. 38.39% of the stock is currently owned by corporate insiders.

Dolby Laboratories 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.