Ameriprise Financial Inc. boosted its position in Dolby Laboratories, Inc. (NYSE:DLB) by 24.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,318 shares of the electronics maker’s stock after acquiring an additional 4,436 shares during the period. Ameriprise Financial Inc.’s holdings in Dolby Laboratories were worth $1,166,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Dolby Laboratories by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock valued at $114,000 after buying an additional 209 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Dolby Laboratories by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock worth $174,000 after purchasing an additional 725 shares during the period. Berkshire Asset Management LLC PA acquired a new stake in shares of Dolby Laboratories during the third quarter worth about $200,000. CIBC Asset Management Inc acquired a new stake in shares of Dolby Laboratories during the third quarter worth about $204,000. Finally, Verition Fund Management LLC bought a new position in shares of Dolby Laboratories during the second quarter worth about $273,000. Institutional investors and hedge funds own 52.61% of the company’s stock.
A number of research firms recently issued reports on DLB. JPMorgan Chase & Co. increased their price objective on Dolby Laboratories from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Zacks Investment Research downgraded Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Monday. Finally, B. Riley downgraded Dolby Laboratories from a “buy” rating to a “neutral” rating and set a $63.00 price target for the company. in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Dolby Laboratories currently has a consensus rating of “Hold” and a consensus price target of $62.00.
In other news, CEO Kevin J. Yeaman sold 11,130 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $62.47, for a total transaction of $695,291.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Lewis Chew sold 17,000 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $59.55, for a total value of $1,012,350.00. The disclosure for this sale can be found here. Insiders sold a total of 542,202 shares of company stock valued at $33,810,703 over the last ninety days. Insiders own 43.80% of the company’s stock.
Dolby Laboratories, Inc. (NYSE DLB) traded down $0.71 during trading hours on Friday, reaching $63.37. The company had a trading volume of 306,176 shares, compared to its average volume of 428,716. The firm has a market cap of $6,581.21 and a PE ratio of 100.59. Dolby Laboratories, Inc. has a 1-year low of $47.19 and a 1-year high of $74.29.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.35. The business had revenue of $287.80 million during the quarter, compared to analysts’ expectations of $265.75 million. Dolby Laboratories had a return on equity of 11.95% and a net margin of 6.06%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.66 EPS. equities analysts forecast that Dolby Laboratories, Inc. will post 0.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th will be issued a $0.16 dividend. The ex-dividend date is Friday, February 2nd. This represents a $0.64 annualized dividend and a yield of 1.01%. Dolby Laboratories’s dividend payout ratio is presently 101.59%.
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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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