International Assets Investment Management LLC Buys Shares of 84,198 Dolby Laboratories, Inc. (NYSE:DLB)

International Assets Investment Management LLC bought a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 84,198 shares of the electronics maker’s stock, valued at approximately $7,256,000. International Assets Investment Management LLC owned about 0.09% of Dolby Laboratories at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DLB. Morgan Stanley lifted its position in Dolby Laboratories by 577.7% during the fourth quarter. Morgan Stanley now owns 4,365,832 shares of the electronics maker’s stock valued at $307,966,000 after purchasing an additional 3,721,613 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Dolby Laboratories by 320.2% during the first quarter. First Trust Advisors LP now owns 1,081,747 shares of the electronics maker’s stock worth $84,614,000 after acquiring an additional 824,296 shares in the last quarter. Norges Bank purchased a new position in shares of Dolby Laboratories during the fourth quarter worth approximately $38,977,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Dolby Laboratories by 4.8% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock worth $415,808,000 after acquiring an additional 239,578 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Dolby Laboratories during the third quarter worth approximately $18,702,000. 58.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on DLB. StockNews.com raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Rosenblatt Securities reissued a “buy” rating and set a $98.00 price target on shares of Dolby Laboratories in a research note on Wednesday, January 31st.

Dolby Laboratories Stock Down 1.6 %

Shares of NYSE DLB opened at $80.19 on Monday. Dolby Laboratories, Inc. has a 52 week low of $75.87 and a 52 week high of $91.01. The firm’s fifty day moving average is $81.71 and its 200 day moving average is $83.42. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 41.55 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, topping 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 company had revenue of $315.57 million for the quarter, compared to the consensus estimate of $310.98 million. Equities research analysts anticipate 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. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Monday, February 12th. Dolby Laboratories’s payout ratio is 62.18%.

Insider Buying and Selling

In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the transaction, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at approximately $8,769,420.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the transaction, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at approximately $8,769,420.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin J. Yeaman sold 9,030 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 83,721 shares in the company, valued at $6,991,540.71. The disclosure for this sale can be found here. 39.54% of the stock is owned by 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.