Strs Ohio Reduces Position in Dolby Laboratories, Inc. (NYSE:DLB)

Strs Ohio decreased its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,843 shares of the electronics maker’s stock after selling 2,750 shares during the period. Strs Ohio’s holdings in Dolby Laboratories were worth $2,227,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of DLB. Teachers Retirement System of The State of Kentucky purchased a new position in Dolby Laboratories in the 3rd quarter valued at approximately $1,610,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Dolby Laboratories in the fourth quarter valued at $2,229,000. Envestnet Asset Management Inc. raised its stake in shares of Dolby Laboratories by 64.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 466,282 shares of the electronics maker’s stock valued at $36,958,000 after purchasing an additional 181,904 shares during the period. Pacer Advisors Inc. lifted its holdings in Dolby Laboratories by 115.5% during the 4th quarter. Pacer Advisors Inc. now owns 16,418 shares of the electronics maker’s stock worth $1,415,000 after purchasing an additional 8,798 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Dolby Laboratories by 331.3% in the 3rd quarter. Amalgamated Bank now owns 41,227 shares of the electronics maker’s stock worth $3,268,000 after purchasing an additional 31,668 shares during the period. Institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In other news, SVP John D. Couling sold 33,560 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was 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 of the company’s stock, valued at approximately $8,769,420.39. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 39.54% of the company’s stock.

Dolby Laboratories Stock Down 0.1 %

Shares of NYSE DLB opened at $78.19 on Friday. The firm has a market capitalization of $7.47 billion, a P/E ratio of 40.51 and a beta of 0.97. The stock’s 50-day simple moving average is $81.57 and its two-hundred day simple moving average is $83.32. Dolby Laboratories, Inc. has a twelve month low of $75.87 and a twelve month high of $91.01.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share 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 analysts’ expectations of $310.98 million. As a group, research analysts anticipate that Dolby Laboratories, Inc. will post 2.63 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Tuesday, February 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Monday, February 12th. Dolby Laboratories’s payout ratio is currently 62.18%.

Analyst Ratings Changes

DLB has been the topic of several analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 price target 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 research note on Friday, February 2nd.

About Dolby Laboratories

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.