Stifel Financial Corp Has $3.35 Million Position in Dolby Laboratories, Inc. (NYSE:DLB)

Stifel Financial Corp trimmed its stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 18.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,875 shares of the electronics maker's stock after selling 9,511 shares during the quarter. Stifel Financial Corp's holdings in Dolby Laboratories were worth $3,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Fifth Third Bancorp increased its holdings in Dolby Laboratories by 82.7% in 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 during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after purchasing an additional 301 shares in the last quarter. Mather Group LLC. boosted its holdings in Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock worth $41,000 after purchasing an additional 142 shares in the last quarter. Headlands Technologies LLC bought a new position in Dolby Laboratories during the fourth quarter valued at about $57,000. Finally, GAMMA Investing LLC lifted its position in shares of Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock worth $61,000 after buying an additional 525 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dolby Laboratories

In other news, CMO Todd Pendleton sold 18,121 shares of Dolby Laboratories stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 38.39% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DLB. Rosenblatt Securities cut their price objective on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Barrington Research reissued an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Friday, May 2nd. Finally, StockNews.com downgraded shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st.

Dolby Laboratories Trading Down 0.1 %

DLB traded down $0.08 during midday trading on Wednesday, reaching $74.18. The company's stock had a trading volume of 199,086 shares, compared to its average volume of 452,119. The company has a fifty day simple moving average of $77.46 and a 200 day simple moving average of $78.34. The stock has a market cap of $7.08 billion, a P/E ratio of 27.24 and a beta of 0.95. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66.

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

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 13th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.78%. Dolby Laboratories's dividend payout ratio is currently 49.81%.

About Dolby Laboratories

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.