Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Versor Investments LP

Versor Investments LP reduced its stake in shares of Dolby Laboratories, Inc. (NYSE:DLBGet Rating) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,442 shares of the electronics maker’s stock after selling 194 shares during the period. Versor Investments LP’s holdings in Dolby Laboratories were worth $224,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. National Bank of Canada FI purchased a new stake in Dolby Laboratories in the 3rd quarter worth approximately $26,000. Ronald Blue Trust Inc. grew its stake in Dolby Laboratories by 89.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 374 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 177 shares during the period. First Horizon Advisors Inc. purchased a new stake in Dolby Laboratories in the 2nd quarter worth approximately $29,000. Zions Bancorporation N.A. purchased a new stake in Dolby Laboratories in the 1st quarter worth approximately $42,000. Finally, Venture Visionary Partners LLC purchased a new stake in Dolby Laboratories in the 2nd quarter worth approximately $57,000. 82.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Mark Andrew Sherman sold 5,070 shares of the company’s stock in a transaction on Monday, December 19th. The shares were sold at an average price of $69.84, for a total transaction of $354,088.80. Following the completion of the sale, the executive vice president now directly owns 60,425 shares of the company’s stock, valued at approximately $4,220,082. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 39.25% of the stock is owned by corporate insiders.

Dolby Laboratories Stock Up 2.1 %

Shares of NYSE DLB opened at $74.45 on Tuesday. Dolby Laboratories, Inc. has a 52-week low of $61.55 and a 52-week high of $93.97. The firm has a fifty day moving average of $70.71 and a 200-day moving average of $71.73. The stock has a market capitalization of $7.14 billion, a PE ratio of 41.36, a P/E/G ratio of 1.87 and a beta of 0.98.

Dolby Laboratories (NYSE:DLBGet Rating) last announced its quarterly earnings data on Thursday, November 17th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.14). Dolby Laboratories had a net margin of 14.68% and a return on equity of 9.19%. The company had revenue of $278.20 million for the quarter, compared to analysts’ expectations of $303.58 million. Equities research analysts expect that Dolby Laboratories, Inc. will post 2.43 EPS for the current fiscal year.

Dolby Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 8th. Investors of record on Wednesday, November 30th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.45%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, November 29th. Dolby Laboratories’s dividend payout ratio is 60.00%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Tigress Financial lowered their target price on shares of Dolby Laboratories from $128.00 to $116.00 and set a “buy” rating for the company in a research note on Friday, October 14th. StockNews.com cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, November 21st. Rosenblatt Securities lowered their price objective on shares of Dolby Laboratories from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, November 7th. Finally, Barrington Research cut shares of Dolby Laboratories from an “outperform” rating to a “market perform” rating in a research note on Friday, November 18th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.00.

Dolby Laboratories Profile

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Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. 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.

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Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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