Advisor Group Holdings Inc. grew its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 1.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 20,610 shares of the electronics maker’s stock after purchasing an additional 345 shares during the period. Advisor Group Holdings Inc.’s holdings in Dolby Laboratories were worth $1,815,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Utah Retirement Systems grew its holdings in shares of Dolby Laboratories by 0.8% in the second quarter. Utah Retirement Systems now owns 12,227 shares of the electronics maker’s stock valued at $1,202,000 after acquiring an additional 100 shares in the last quarter. JJJ Advisors Inc. grew its holdings in shares of Dolby Laboratories by 12.9% in the third quarter. JJJ Advisors Inc. now owns 1,111 shares of the electronics maker’s stock valued at $98,000 after acquiring an additional 127 shares in the last quarter. Patten & Patten Inc. TN grew its holdings in shares of Dolby Laboratories by 0.3% in the third quarter. Patten & Patten Inc. TN now owns 45,640 shares of the electronics maker’s stock valued at $4,016,000 after acquiring an additional 130 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Dolby Laboratories by 15.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,021 shares of the electronics maker’s stock valued at $101,000 after acquiring an additional 137 shares in the last quarter. Finally, Virginia Retirement Systems ET AL grew its holdings in shares of Dolby Laboratories by 8.3% in the second quarter. Virginia Retirement Systems ET AL now owns 2,600 shares of the electronics maker’s stock valued at $256,000 after acquiring an additional 200 shares in the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have weighed in on DLB. Colliers Securities reissued a “buy” rating on shares of Dolby Laboratories in a report on Wednesday, November 17th. Barrington Research reissued a “buy” rating and set a $114.00 price objective on shares of Dolby Laboratories in a report on Thursday, November 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $101.67.
NYSE:DLB opened at $88.86 on Thursday. The company has a market cap of $8.99 billion, a P/E ratio of 29.92, a P/E/G ratio of 2.42 and a beta of 0.99. The stock’s fifty day moving average price is $90.36 and its two-hundred day moving average price is $93.22. Dolby Laboratories, Inc. has a 1 year low of $83.10 and a 1 year high of $104.74.
Dolby Laboratories (NYSE:DLB) last posted its earnings results on Tuesday, November 16th. The electronics maker reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. The firm had revenue of $285.03 million for the quarter, compared to the consensus estimate of $299.95 million. Dolby Laboratories had a return on equity of 11.87% and a net margin of 24.21%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 earnings per share. Equities analysts forecast that Dolby Laboratories, Inc. will post 2.92 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 8th. Investors of record on Tuesday, November 30th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, November 29th. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.22. Dolby Laboratories’s dividend payout ratio (DPR) is 33.67%.
In related news, EVP Mark Andrew Sherman sold 1,638 shares of the stock in a transaction on Monday, December 20th. The stock was sold at an average price of $90.69, for a total value of $148,550.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin J. Yeaman sold 29,457 shares of the stock in a transaction on Wednesday, December 15th. The stock was sold at an average price of $90.66, for a total value of $2,670,571.62. The disclosure for this sale can be found here. Insiders sold 102,381 shares of company stock worth $9,345,264 in the last quarter. 37.06% of the stock is currently owned by company insiders.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc engages in the provision of audio and imaging technologies. It transforms entertainment and communications for content playback in movies, television, music, and gaming. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.
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