Raymond James & Associates Acquires 5,380 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Raymond James & Associates increased its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 502,852 shares of the electronics maker’s stock after purchasing an additional 5,380 shares during the quarter. Raymond James & Associates owned approximately 0.53% of Dolby Laboratories worth $43,336,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CHICAGO TRUST Co NA bought a new stake in Dolby Laboratories during the fourth quarter valued at $213,000. Whittier Trust Co. boosted its position in Dolby Laboratories by 5.1% during the fourth quarter. Whittier Trust Co. now owns 3,223 shares of the electronics maker’s stock valued at $278,000 after acquiring an additional 156 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Dolby Laboratories during the fourth quarter valued at $2,229,000. First Affirmative Financial Network bought a new stake in Dolby Laboratories during the fourth quarter valued at $223,000. Finally, Exchange Traded Concepts LLC boosted its position in Dolby Laboratories by 24.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,391 shares of the electronics maker’s stock valued at $292,000 after acquiring an additional 666 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Trading Up 0.3 %

Shares of NYSE DLB opened at $83.83 on Friday. The firm’s 50-day moving average price is $82.09 and its 200-day moving average price is $83.30. Dolby Laboratories, Inc. has a 1-year low of $75.87 and a 1-year high of $91.01. The firm has a market capitalization of $8.01 billion, a P/E ratio of 43.44 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.14. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. The company had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.98 million. Equities research analysts forecast that Dolby Laboratories, Inc. will post 2.63 EPS for the current year.

Dolby Laboratories Announces Dividend

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

Analysts Set New Price Targets

DLB has been the topic of several research reports. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a report on Wednesday, January 31st. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Friday, February 2nd.

Insider Buying and Selling

In related news, SVP John D. Couling sold 33,560 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $80.81, for a total value of $2,711,983.60. Following the sale, the senior vice president now owns 108,519 shares in the company, valued at approximately $8,769,420.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $80.81, for a total value of $2,711,983.60. Following the completion of the sale, the senior vice president now owns 108,519 shares in the company, valued at approximately $8,769,420.39. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kevin J. Yeaman sold 9,030 shares of the stock in a transaction dated 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 owns 83,721 shares of the company’s stock, valued at approximately $6,991,540.71. The disclosure for this sale can be found here. 39.54% of the stock is currently owned by company insiders.

Dolby Laboratories Company Profile

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.