Arden Trust Co Sells 378 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Arden Trust Co lessened its position in shares of Dolby Laboratories, Inc. (NYSE:DLBFree Report) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,326 shares of the electronics maker’s stock after selling 378 shares during the period. Arden Trust Co’s holdings in Dolby Laboratories were worth $287,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DLB. JPMorgan Chase & Co. increased its holdings in Dolby Laboratories by 31.4% during the 1st quarter. JPMorgan Chase & Co. now owns 126,310 shares of the electronics maker’s stock worth $9,880,000 after purchasing an additional 30,158 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Dolby Laboratories by 4.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,186 shares of the electronics maker’s stock worth $797,000 after purchasing an additional 418 shares in the last quarter. Private Advisor Group LLC increased its holdings in Dolby Laboratories by 7.8% during the 1st quarter. Private Advisor Group LLC now owns 6,277 shares of the electronics maker’s stock worth $491,000 after purchasing an additional 456 shares in the last quarter. MetLife Investment Management LLC bought a new position in Dolby Laboratories during the 1st quarter worth about $100,000. Finally, Great West Life Assurance Co. Can increased its holdings in Dolby Laboratories by 3.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,954 shares of the electronics maker’s stock worth $409,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 56.37% of the company’s stock.

Dolby Laboratories Price Performance

Dolby Laboratories stock opened at $83.83 on Friday. The firm has a 50-day moving average of $82.34 and a 200-day moving average of $83.36. Dolby Laboratories, Inc. has a one year low of $75.87 and a one year high of $91.01. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 43.44 and a beta of 0.97.

Dolby Laboratories (NYSE:DLBGet Free Report) last issued its earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. The business had revenue of $315.57 million during the quarter, compared to the consensus estimate of $310.98 million. As a group, sell-side analysts expect that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were paid a $0.30 dividend. The ex-dividend date was Monday, February 12th. This represents a $1.20 annualized dividend and a yield of 1.43%. Dolby Laboratories’s dividend payout ratio (DPR) is currently 62.18%.

Analysts Set New Price Targets

A number of research firms have recently commented on DLB. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Rosenblatt Securities restated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a research note on Wednesday, January 31st.

Check Out Our Latest Analysis on DLB

Insider Activity at Dolby Laboratories

In related news, EVP Mark Andrew Sherman sold 8,856 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $86.19, for a total value of $763,298.64. Following the completion of the sale, the executive vice president now directly owns 59,988 shares in the company, valued at approximately $5,170,365.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 9,030 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $83.51, for a total transaction of $754,095.30. Following the completion of the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at $6,991,540.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Andrew Sherman sold 8,856 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $86.19, for a total transaction of $763,298.64. Following the sale, the executive vice president now owns 59,988 shares of the company’s stock, valued at $5,170,365.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,446 shares of company stock worth $4,229,378. Insiders own 39.54% of the company’s stock.

Dolby Laboratories Company Profile

(Free Report)

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