Dolby Laboratories $DLB Stock Holdings Increased by ProShare Advisors LLC

ProShare Advisors LLC boosted its stake in shares of Dolby Laboratories (NYSE:DLB) by 16.2% during the third quarter, HoldingsChannel.com reports. The firm owned 90,069 shares of the electronics maker’s stock after acquiring an additional 12,550 shares during the period. ProShare Advisors LLC’s holdings in Dolby Laboratories were worth $6,518,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Corp acquired a new stake in shares of Dolby Laboratories during the 3rd quarter valued at $25,000. Hantz Financial Services Inc. boosted its position in Dolby Laboratories by 166.7% during the third quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 220 shares during the last quarter. Allworth Financial LP grew its stake in Dolby Laboratories by 590.4% in the second quarter. Allworth Financial LP now owns 504 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 431 shares in the last quarter. Mather Group LLC. acquired a new position in Dolby Laboratories in the 3rd quarter worth about $38,000. Finally, Atlantic Union Bankshares Corp acquired a new position in Dolby Laboratories in the 2nd quarter worth about $50,000. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DLB shares. Wall Street Zen lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price objective on shares of Dolby Laboratories in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dolby Laboratories in a report on Monday, December 29th. Finally, Barrington Research dropped their target price on shares of Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Dolby Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $90.75.

Insider Transactions at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 9,109 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $66.73, for a total transaction of $607,843.57. Following the sale, the executive vice president directly owned 73,054 shares in the company, valued at approximately $4,874,893.42. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin J. Yeaman sold 36,699 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $66.91, for a total value of $2,455,530.09. Following the completion of the transaction, the chief executive officer directly owned 114,725 shares of the company’s stock, valued at approximately $7,676,249.75. This trade represents a 24.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 137,120 shares of company stock valued at $9,184,809. 37.93% of the stock is currently owned by insiders.

Dolby Laboratories Trading Down 3.7%

Shares of Dolby Laboratories stock opened at $66.55 on Friday. Dolby Laboratories has a 1 year low of $60.14 and a 1 year high of $85.21. The company’s fifty day simple moving average is $64.83 and its 200-day simple moving average is $68.24. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 26.83 and a beta of 0.86.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $346.71 million during the quarter, compared to the consensus estimate of $341.26 million. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. As a group, research analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a yield of 2.2%. Dolby Laboratories’s dividend payout ratio (DPR) is 58.06%.

Dolby Laboratories Profile

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.