Janus Henderson Group PLC increased its position in Dolby Laboratories (NYSE:DLB) by 17.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 587,769 shares of the electronics maker’s stock after buying an additional 85,976 shares during the period. Janus Henderson Group PLC owned 0.57% of Dolby Laboratories worth $28,774,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its holdings in Dolby Laboratories by 4.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 310,210 shares of the electronics maker’s stock worth $15,188,000 after buying an additional 12,045 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Dolby Laboratories by 11.7% in the second quarter. Principal Financial Group Inc. now owns 32,427 shares of the electronics maker’s stock worth $1,588,000 after buying an additional 3,396 shares during the last quarter. Vanguard Group Inc. increased its holdings in Dolby Laboratories by 2.2% in the second quarter. Vanguard Group Inc. now owns 4,725,496 shares of the electronics maker’s stock worth $231,360,000 after buying an additional 103,702 shares during the last quarter. Skylands Capital LLC acquired a new position in Dolby Laboratories in the second quarter worth approximately $759,000. Finally, UBS Asset Management Americas Inc. increased its holdings in Dolby Laboratories by 3.8% in the second quarter. UBS Asset Management Americas Inc. now owns 154,119 shares of the electronics maker’s stock worth $7,546,000 after buying an additional 5,696 shares during the last quarter. Hedge funds and other institutional investors own 51.85% of the company’s stock.
In other Dolby Laboratories news, Director Peter C. Gotcher sold 9,310 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $60.00, for a total transaction of $558,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark Andrew Sherman sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $60.00, for a total value of $420,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,465,310 shares of company stock worth $74,479,700 in the last ninety days. Insiders own 43.80% of the company’s stock.
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A number of equities analysts recently commented on DLB shares. Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Piper Jaffray Companies restated a “hold” rating and issued a $52.00 price objective (up previously from $49.00) on shares of Dolby Laboratories in a report on Wednesday, September 13th. Dougherty & Co restated a “buy” rating and issued a $63.00 price objective on shares of Dolby Laboratories in a report on Wednesday, September 13th. BidaskClub upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, July 8th. Finally, B. Riley upgraded Dolby Laboratories to a “buy” rating and set a $61.50 price objective on the stock in a report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $60.17.
Shares of Dolby Laboratories (DLB) opened at 57.63 on Friday. The company has a market cap of $5.91 billion, a PE ratio of 29.48 and a beta of 0.85. Dolby Laboratories has a 12 month low of $44.99 and a 12 month high of $61.45. The firm’s 50-day moving average price is $57.54 and its 200-day moving average price is $52.63.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.18. The firm had revenue of $242.05 million for the quarter, compared to analyst estimates of $244.80 million. Dolby Laboratories had a return on equity of 10.73% and a net margin of 18.66%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 EPS. Equities analysts predict that Dolby Laboratories will post $2.27 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, November 6th will be given a dividend of $0.16 per share. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, November 3rd. This represents a $0.64 annualized dividend and a dividend yield of 1.11%. Dolby Laboratories’s payout ratio is 28.87%.
Dolby Laboratories Profile
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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