Mackenzie Financial Corp Sells 203,751 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Mackenzie Financial Corp trimmed its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,273,854 shares of the electronics maker's stock after selling 203,751 shares during the period. Mackenzie Financial Corp owned about 1.34% of Dolby Laboratories worth $109,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Dolby Laboratories by 1.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,517 shares of the electronics maker's stock valued at $754,000 after purchasing an additional 118 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Dolby Laboratories by 2.2% in the first quarter. Principal Financial Group Inc. now owns 5,970 shares of the electronics maker's stock valued at $510,000 after purchasing an additional 128 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Dolby Laboratories by 3.7% in the second quarter. Cerity Partners LLC now owns 3,652 shares of the electronics maker's stock valued at $306,000 after purchasing an additional 130 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Dolby Laboratories by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 26,817 shares of the electronics maker's stock valued at $2,126,000 after purchasing an additional 133 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Dolby Laboratories by 1.4% in the fourth quarter. Bleakley Financial Group LLC now owns 9,444 shares of the electronics maker's stock valued at $814,000 after purchasing an additional 134 shares in the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 9,030 shares of the business's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $83.51, for a total transaction of $754,095.30. Following the transaction, the chief executive officer now owns 83,721 shares of the company's stock, valued at $6,991,540.71. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP John D. Couling sold 33,560 shares of the company's stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $80.81, for a total value of $2,711,983.60. Following the transaction, the senior vice president now owns 108,519 shares of the company's stock, valued at $8,769,420.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin J. Yeaman sold 9,030 shares of the company's stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $83.51, for a total value of $754,095.30. Following the completion of the transaction, the chief executive officer now directly owns 83,721 shares in the company, valued at approximately $6,991,540.71. The disclosure for this sale can be found here. Company insiders own 39.54% of the company's stock.

Dolby Laboratories Stock Performance

DLB traded up $0.02 on Tuesday, hitting $78.63. 289,114 shares of the company were exchanged, compared to its average volume of 377,103. Dolby Laboratories, Inc. has a 12 month low of $75.87 and a 12 month high of $91.01. The company has a market cap of $7.52 billion, a PE ratio of 40.73 and a beta of 0.97. The stock's fifty day moving average is $81.71 and its 200-day moving average is $83.41.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. The business had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.98 million. As a group, equities research analysts expect that Dolby Laboratories, Inc. will post 2.63 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Monday, February 12th. Dolby Laboratories's dividend payout ratio (DPR) is presently 62.18%.

Wall Street Analyst Weigh In

DLB has been the topic of a number of research reports. Rosenblatt Securities restated a "buy" rating and issued a $98.00 price target on shares of Dolby Laboratories in a report on Wednesday, January 31st. StockNews.com upgraded Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Friday, February 2nd.

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.