Sei Investments Co. boosted its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 26.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,358 shares of the electronics maker’s stock after acquiring an additional 2,784 shares during the period. Sei Investments Co.’s holdings in Dolby Laboratories were worth $849,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Elkfork Partners LLC purchased a new position in Dolby Laboratories during the fourth quarter valued at approximately $102,000. Captrust Financial Advisors purchased a new position in Dolby Laboratories during the fourth quarter valued at approximately $122,000. Cornerstone Capital Management Holdings LLC. purchased a new position in Dolby Laboratories during the fourth quarter valued at approximately $145,000. Meadow Creek Investment Management LLC purchased a new position in Dolby Laboratories during the fourth quarter valued at approximately $179,000. Finally, Icon Wealth Partners LLC purchased a new position in Dolby Laboratories during the fourth quarter valued at approximately $215,000. 53.90% of the stock is owned by institutional investors.
Dolby Laboratories opened at $61.69 on Friday, Marketbeat.com reports. Dolby Laboratories, Inc. has a one year low of $48.00 and a one year high of $74.29. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 2.23 and a beta of 0.76.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Tuesday, April 24th. The electronics maker reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.14. Dolby Laboratories had a net margin of 7.64% and a return on equity of 12.73%. The business had revenue of $301.36 million during the quarter, compared to analysts’ expectations of $300.37 million. During the same quarter in the previous year, the company earned $0.63 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. sell-side analysts expect that Dolby Laboratories, Inc. will post 2.31 earnings per share for the current year.
In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, June 28th. The shares were sold at an average price of $61.93, for a total value of $6,193,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Giles Baker sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,994,977 shares of company stock valued at $124,857,053. Corporate insiders own 43.80% of the company’s stock.
DLB has been the subject of several recent analyst reports. Barrington Research reaffirmed a “buy” rating and set a $78.00 price objective on shares of Dolby Laboratories in a research note on Tuesday, May 1st. Zacks Investment Research cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $66.50.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, including Dolby Digital Plus for digital television, mobile, and Internet-based services; Dolby Digital, a digital audio coding technology that provides multichannel sound in the home; and AAC & HE-AAC, an audio coding technologies used to broadcast, download, and streaming content.
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