Janiczek Wealth Management LLC Increases Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Janiczek Wealth Management LLC lifted its position in Dolby Laboratories, Inc. (NYSE:DLB) by 22.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,798 shares of the electronics maker’s stock after buying an additional 516 shares during the quarter. Janiczek Wealth Management LLC’s holdings in Dolby Laboratories were worth $234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dakota Community Bank & Trust NA purchased a new stake in shares of Dolby Laboratories in the second quarter worth about $25,000. Altshuler Shaham Ltd purchased a new stake in Dolby Laboratories in the first quarter valued at approximately $31,000. Belpointe Asset Management LLC purchased a new stake in Dolby Laboratories in the fourth quarter valued at approximately $26,000. Tower Research Capital LLC TRC raised its stake in Dolby Laboratories by 52.7% in the first quarter. Tower Research Capital LLC TRC now owns 400 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 138 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Dolby Laboratories in the first quarter valued at approximately $37,000. 56.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DLB shares. Rosenblatt Securities raised their target price on shares of Dolby Laboratories from $93.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, August 4th. StockNews.com downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, TheStreet downgraded shares of Dolby Laboratories from a “b” rating to a “c+” rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and two have given 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 a consensus target price of $107.00.

Insider Transactions at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 18,060 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $82.62, for a total value of $1,492,117.20. Following the transaction, the chief executive officer now owns 51,879 shares in the company, valued at $4,286,242.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Kevin J. Yeaman sold 27,090 shares of Dolby Laboratories stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $90.00, for a total value of $2,438,100.00. Following the sale, the chief executive officer now owns 51,879 shares in the company, valued at $4,669,110. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin J. Yeaman sold 18,060 shares of Dolby Laboratories stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $82.62, for a total transaction of $1,492,117.20. Following the completion of the sale, the chief executive officer now owns 51,879 shares in the company, valued at approximately $4,286,242.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,099 shares of company stock worth $7,966,927. Insiders own 39.25% of the company’s stock.

Dolby Laboratories Price Performance

NYSE DLB traded down $0.55 on Friday, reaching $81.77. 724,163 shares of the company’s stock traded hands, compared to its average volume of 444,890. Dolby Laboratories, Inc. has a 12 month low of $61.55 and a 12 month high of $91.01. The stock has a 50-day simple moving average of $84.46 and a 200 day simple moving average of $83.73. The stock has a market cap of $7.82 billion, a PE ratio of 36.34 and a beta of 0.98.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, August 3rd. The electronics maker reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Dolby Laboratories had a net margin of 17.03% and a return on equity of 10.44%. The business had revenue of $298.37 million for the quarter, compared to analysts’ expectations of $300.45 million. As a group, analysts anticipate that Dolby Laboratories, Inc. will post 2.46 EPS for the current year.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 22nd. Stockholders of record on Monday, August 14th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, August 11th. Dolby Laboratories’s dividend payout ratio is 48.00%.

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. Its products include Cinema Imaging Products, Cinema Audio Products, and other products such as 3-D kits, broadcast hardware and software, monitors, and solutions for hearing impaired consumers.