Raymond James Financial Services Advisors Inc. boosted its stake in Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,864 shares of the electronics maker’s stock after acquiring an additional 354 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Dolby Laboratories were worth $643,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Venture Visionary Partners LLC purchased a new stake in shares of Dolby Laboratories in the 2nd quarter valued at about $57,000. Trexquant Investment LP acquired a new stake in shares of Dolby Laboratories in the second quarter valued at approximately $1,102,000. Truist Financial Corp grew its position in shares of Dolby Laboratories by 474.3% during the second quarter. Truist Financial Corp now owns 42,352 shares of the electronics maker’s stock worth $3,031,000 after acquiring an additional 34,977 shares during the last quarter. Mayflower Financial Advisors LLC acquired a new position in shares of Dolby Laboratories in the 3rd quarter valued at $276,000. Finally, Wells Fargo & Company MN raised its position in Dolby Laboratories by 58.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,077,995 shares of the electronics maker’s stock valued at $77,142,000 after purchasing an additional 397,471 shares during the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.
Analyst Upgrades and Downgrades
DLB has been the topic of several research reports. Barrington Research downgraded shares of Dolby Laboratories from an “outperform” rating to a “market perform” rating in a research report on Friday, November 18th. Rosenblatt Securities lowered their price target on Dolby Laboratories from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, November 7th. Tigress Financial dropped their price target on Dolby Laboratories from $128.00 to $116.00 and set a “buy” rating on the stock in a research report on Friday, October 14th. Finally, StockNews.com cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, November 21st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.00.
Dolby Laboratories Stock Performance
Dolby Laboratories (NYSE:DLB – Get Rating) last announced its quarterly earnings data on Thursday, November 17th. The electronics maker reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.14). Dolby Laboratories had a net margin of 14.68% and a return on equity of 9.19%. The firm had revenue of $278.20 million during the quarter, compared to analyst estimates of $303.58 million. Equities analysts forecast that Dolby Laboratories, Inc. will post 2.39 earnings per share for the current fiscal year.
Dolby Laboratories Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 8th. Investors of record on Wednesday, November 30th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Tuesday, November 29th. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.25. Dolby Laboratories’s dividend payout ratio is currently 60.00%.
Insiders Place Their Bets
In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 5,070 shares of the business’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 sale, the executive vice president now directly owns 60,425 shares in the company, valued at approximately $4,220,082. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 39.25% of the stock is currently owned by company insiders.
Dolby Laboratories Profile
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.
- Get a free copy of the StockNews.com research report on Dolby Laboratories (DLB)
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