Wealth Enhancement Advisory Services LLC Has $442,000 Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 6.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,657 shares of the electronics maker’s stock after buying an additional 331 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Dolby Laboratories were worth $442,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DLB. Vise Technologies Inc. bought a new position in shares of Dolby Laboratories in the fourth quarter worth about $308,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Dolby Laboratories by 3.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 225,618 shares of the electronics maker’s stock valued at $17,621,000 after buying an additional 6,640 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Dolby Laboratories by 247.2% in the 4th quarter. Squarepoint Ops LLC now owns 191,675 shares of the electronics maker’s stock valued at $14,970,000 after buying an additional 136,465 shares during the period. Two Sigma Advisers LP increased its stake in shares of Dolby Laboratories by 20.4% in the 4th quarter. Two Sigma Advisers LP now owns 29,500 shares of the electronics maker’s stock valued at $2,304,000 after buying an additional 5,000 shares during the period. Finally, Teza Capital Management LLC bought a new stake in shares of Dolby Laboratories during the fourth quarter worth $588,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Insider Buying and Selling

In related news, CEO Kevin J. Yeaman sold 33,683 shares of the business’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $76.22, for a total value of $2,567,318.26. Following the transaction, the chief executive officer now directly owns 114,725 shares of the company’s stock, valued at approximately $8,744,339.50. The trade was a 22.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Andrew Sherman sold 15,000 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $75.02, for a total transaction of $1,125,300.00. Following the completion of the sale, the executive vice president now directly owns 62,397 shares in the company, valued at $4,681,022.94. This trade represents a 19.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,358 shares of company stock worth $3,743,270 in the last ninety days. Corporate insiders own 38.39% of the company’s stock.

Dolby Laboratories Trading Down 0.0%

DLB opened at $75.23 on Friday. The company has a market cap of $7.23 billion, a P/E ratio of 27.66 and a beta of 0.93. The company’s 50 day moving average is $74.73 and its 200-day moving average is $78.49. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.05. The business had revenue of $369.56 million during the quarter, compared to the consensus estimate of $375.44 million. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. Dolby Laboratories’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 earnings per share. On average, equities analysts forecast that Dolby Laboratories, Inc. will post 2.94 EPS for the current year.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Tuesday, May 13th. Dolby Laboratories’s payout ratio is 49.81%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DLB. Rosenblatt Securities cut their price target on Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Barrington Research reissued an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Friday, May 2nd. Tigress Financial initiated coverage on Dolby Laboratories in a report on Thursday, May 15th. They set a “buy” rating and a $112.00 target price on the stock. Finally, Wall Street Zen raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, May 30th.

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.