Janney Montgomery Scott LLC boosted its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 5.6% during the third quarter, Holdings Channel.com reports. The fund owned 24,334 shares of the electronics maker’s stock after acquiring an additional 1,286 shares during the period. Janney Montgomery Scott LLC’s holdings in Dolby Laboratories were worth $1,613,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Nachman Norwood & Parrott Inc acquired a new position in Dolby Laboratories during the third quarter worth about $28,000. Pflug Koory LLC acquired a new position in shares of Dolby Laboratories during the 2nd quarter worth approximately $33,000. Prospera Financial Services Inc purchased a new stake in Dolby Laboratories in the 3rd quarter valued at approximately $52,000. Meeder Asset Management Inc. acquired a new stake in Dolby Laboratories during the 3rd quarter valued at $92,000. Finally, Spark Investment Management LLC purchased a new position in Dolby Laboratories during the second quarter worth $204,000. Hedge funds and other institutional investors own 56.47% of the company’s stock.
In other Dolby Laboratories news, Director Peter C. Gotcher sold 8,004 shares of the business’s stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $87.42, for a total transaction of $699,709.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Steven E. Forshay sold 833 shares of the stock in a transaction on Friday, October 16th. The stock was sold at an average price of $69.81, for a total transaction of $58,151.73. The disclosure for this sale can be found here. Insiders sold a total of 276,638 shares of company stock worth $23,151,873 over the last ninety days. Corporate insiders own 38.17% of the company’s stock.
A number of research firms recently commented on DLB. B. Riley increased their price objective on Dolby Laboratories from $73.00 to $79.00 and gave the company a “neutral” rating in a research note on Friday, November 13th. Barrington Research lifted their price target on shares of Dolby Laboratories from $70.00 to $83.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, Zacks Investment Research raised shares of Dolby Laboratories from a “sell” rating to a “hold” rating and set a $73.00 price objective for the company in a research report on Friday, August 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Dolby Laboratories has an average rating of “Buy” and an average target price of $75.00.
Shares of NYSE:DLB opened at $87.80 on Friday. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.75 and a beta of 0.81. The stock’s 50-day moving average price is $75.18 and its two-hundred day moving average price is $67.67. Dolby Laboratories, Inc. has a 12-month low of $44.68 and a 12-month high of $90.09.
Dolby Laboratories (NYSE:DLB) last released its earnings results on Thursday, November 12th. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.25. The firm had revenue of $271.20 million during the quarter, compared to the consensus estimate of $245.04 million. Dolby Laboratories had a net margin of 19.91% and a return on equity of 9.95%. Dolby Laboratories’s revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share. On average, equities analysts predict that Dolby Laboratories, Inc. will post 2.3 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 24th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Monday, November 23rd. Dolby Laboratories’s dividend payout ratio (DPR) is currently 38.26%.
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, 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 media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and a range of media devices.
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