Sherbrooke Park Advisers LLC Makes New $580,000 Investment in Dolby Laboratories, Inc. (NYSE:DLB)

Sherbrooke Park Advisers LLC acquired a new position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,429 shares of the electronics maker's stock, valued at approximately $580,000.

A number of other institutional investors and hedge funds have also modified their holdings of DLB. Barclays PLC increased its stake in shares of Dolby Laboratories by 80.5% in the third 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 period. Hennion & Walsh Asset Management Inc. increased its position in Dolby Laboratories by 12.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 16,239 shares of the electronics maker's stock worth $1,268,000 after buying an additional 1,797 shares during the period. Mitchell & Pahl Private Wealth LLC increased its position in Dolby Laboratories by 5.3% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 14,771 shares of the electronics maker's stock worth $1,154,000 after buying an additional 745 shares during the period. Nisa Investment Advisors LLC increased its position in Dolby Laboratories by 436.2% in the 4th 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. Finally, SG Americas Securities LLC bought a new position in Dolby Laboratories in the 4th quarter worth approximately $3,543,000. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Trading Down 0.1%

DLB stock traded down $0.10 during trading on Thursday, reaching $75.66. 92,248 shares of the stock were exchanged, compared to its average volume of 460,718. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66. The company has a market capitalization of $7.27 billion, a P/E ratio of 27.82 and a beta of 0.95. The stock has a 50 day simple moving average of $76.30 and a 200-day simple moving average of $78.55.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.05. The business had revenue of $369.56 million for the quarter, compared to the consensus estimate of $375.44 million. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $1.27 earnings per share. Equities analysts predict that Dolby Laboratories, Inc. will post 2.94 EPS for the current year.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories's payout ratio is 49.81%.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, 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 transaction of $50,652.00. Following the completion of the transaction, the senior vice president now directly owns 121,151 shares in the company, valued at $9,091,171.04. This represents 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 this link. Company insiders own 38.39% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on DLB shares. Wall Street Zen downgraded Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st. Rosenblatt Securities dropped their price target on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Friday, May 2nd. Finally, Tigress Financial started coverage on Dolby Laboratories in a research report on Thursday, May 15th. They set a "buy" rating and a $112.00 target price on the stock.

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.