River Road Asset Management LLC trimmed its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 41.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,470 shares of the electronics maker’s stock after selling 94,670 shares during the quarter. River Road Asset Management LLC owned about 0.13% of Dolby Laboratories worth $8,399,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Dolby Laboratories by 1.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,769 shares of the electronics maker’s stock worth $380,000 after purchasing an additional 94 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Dolby Laboratories by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock worth $174,000 after purchasing an additional 725 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Dolby Laboratories by 0.3% in the 2nd quarter. Northern Trust Corp now owns 273,724 shares of the electronics maker’s stock worth $13,401,000 after purchasing an additional 836 shares in the last quarter. Cortina Asset Management LLC boosted its holdings in shares of Dolby Laboratories by 1.1% in the 3rd quarter. Cortina Asset Management LLC now owns 85,562 shares of the electronics maker’s stock worth $4,922,000 after purchasing an additional 921 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Dolby Laboratories by 33.4% in the 4th quarter. US Bancorp DE now owns 3,852 shares of the electronics maker’s stock worth $239,000 after purchasing an additional 964 shares in the last quarter. Institutional investors and hedge funds own 52.74% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research cut Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Monday, January 29th. B. Riley cut Dolby Laboratories to a “hold” rating and set a $63.00 target price for the company. in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. increased their target price on Dolby Laboratories from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $62.00.
Shares of Dolby Laboratories, Inc. (DLB) opened at $63.37 on Friday. The firm has a market capitalization of $6,569.63, a PE ratio of 26.89, a P/E/G ratio of 5.34 and a beta of 0.78. Dolby Laboratories, Inc. has a fifty-two week low of $48.00 and a fifty-two week high of $74.29.
Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, January 24th. The electronics maker reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.35. The company had revenue of $287.80 million during the quarter, compared to analysts’ expectations of $265.75 million. Dolby Laboratories had a return on equity of 12.02% and a net margin of 6.06%. Dolby Laboratories’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. analysts forecast that Dolby Laboratories, Inc. will post 0.99 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Monday, February 5th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, February 2nd. Dolby Laboratories’s dividend payout ratio is presently 101.59%.
In other Dolby Laboratories news, SVP Bob Borchers sold 33,179 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $61.74, for a total transaction of $2,048,471.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin J. Yeaman sold 11,130 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $62.47, for a total value of $695,291.10. The disclosure for this sale can be found here. Insiders have sold a total of 682,264 shares of company stock valued at $42,556,000 over the last 90 days. 43.80% of the stock is currently owned by company insiders.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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