Stifel Financial Corp Lowers Position in Dolby Laboratories, Inc. (NYSE:DLB)

Stifel Financial Corp lowered its position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 18.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

A number of other hedge funds have also made changes to their positions in DLB. Tower Research Capital LLC TRC raised its position in shares of Dolby Laboratories by 99.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,130 shares of the electronics maker's stock valued at $479,000 after purchasing an additional 3,059 shares during the period. MetLife Investment Management LLC grew its holdings in Dolby Laboratories by 9.1% during the 4th quarter. MetLife Investment Management LLC now owns 33,618 shares of the electronics maker's stock worth $2,626,000 after acquiring an additional 2,797 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Dolby Laboratories by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 901,707 shares of the electronics maker's stock worth $70,424,000 after buying an additional 31,164 shares during the last quarter. First Trust Advisors LP increased its holdings in Dolby Laboratories by 0.9% in the fourth quarter. First Trust Advisors LP now owns 794,772 shares of the electronics maker's stock valued at $62,072,000 after purchasing an additional 7,265 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Dolby Laboratories by 0.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 44,954 shares of the electronics maker's stock worth $3,511,000 after purchasing an additional 216 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Dolby Laboratories Price Performance

Dolby Laboratories stock traded up $0.71 during mid-day trading on Thursday, reaching $74.15. 58,545 shares of the company were exchanged, compared to its average volume of 450,910. The firm has a market cap of $7.08 billion, a PE ratio of 27.26 and a beta of 0.95. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.66. The company has a fifty day simple moving average of $77.29 and a 200-day simple moving average of $78.31.

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

Dolby Laboratories Announces Dividend

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

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CMO Todd Pendleton sold 18,121 shares of the stock in a transaction that occurred on 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 transaction, the chief marketing officer now directly owns 37,290 shares in the company, valued at $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John D. Couling sold 675 shares of the company'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 sale, the senior vice president now owns 121,151 shares of the company's stock, valued at approximately $9,091,171.04. The trade was a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 38.39% of the stock is currently owned by company 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.