US Bancorp DE Has $385,000 Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

US Bancorp DE cut its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,920 shares of the electronics maker’s stock after selling 437 shares during the period. US Bancorp DE’s holdings in Dolby Laboratories were worth $385,000 as of its most recent filing with the Securities and Exchange Commission.

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

Dolby Laboratories Price Performance

Shares of NYSE DLB opened at $79.09 on Tuesday. The stock has a market capitalization of $7.59 billion, a PE ratio of 43.94, a P/E/G ratio of 2.05 and a beta of 0.98. The business has a fifty day moving average price of $72.44 and a two-hundred day moving average price of $71.99. Dolby Laboratories, Inc. has a fifty-two week low of $61.55 and a fifty-two week high of $88.20.

Dolby Laboratories (NYSE:DLB – Get Rating) last announced its quarterly earnings data on Thursday, November 17th. The electronics maker reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.14). The company had revenue of $278.20 million during the quarter, compared to analyst estimates of $303.58 million. Dolby Laboratories had a net margin of 14.68% and a return on equity of 9.19%. On average, equities analysts expect that Dolby Laboratories, Inc. will post 2.39 EPS for the current year.

Dolby Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 8th. Stockholders of record on Wednesday, November 30th were issued a dividend of $0.27 per share. The ex-dividend date was Tuesday, November 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.25. Dolby Laboratories’s payout ratio is 60.00%.

Insider Transactions at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 5,070 shares of the business’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $69.84, for a total transaction of $354,088.80. Following the completion of the transaction, the executive vice president now owns 60,425 shares of the company’s stock, valued at approximately $4,220,082. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 39.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on DLB shares. Rosenblatt Securities reduced their target price on shares of Dolby Laboratories from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, November 7th. StockNews.com downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Monday, November 21st. Barrington Research downgraded shares of Dolby Laboratories from an “outperform” rating to a “market perform” rating in a research report on Friday, November 18th. Finally, Tigress Financial reduced 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. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.