Blair William & Co. IL Buys 2,145 Shares of Dolby Laboratories (DLB)
Blair William & Co. IL increased its position in shares of Dolby Laboratories (NYSE:DLB) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,506 shares of the electronics maker’s stock after buying an additional 2,145 shares during the period. Blair William & Co. IL’s holdings in Dolby Laboratories were worth $1,053,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in DLB. Teachers Advisors LLC increased its stake in Dolby Laboratories by 104.6% in the fourth quarter. Teachers Advisors LLC now owns 131,236 shares of the electronics maker’s stock worth $5,931,000 after buying an additional 67,098 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Dolby Laboratories by 24.3% in the first quarter. Janney Montgomery Scott LLC now owns 21,663 shares of the electronics maker’s stock worth $1,135,000 after buying an additional 4,233 shares in the last quarter. Wells Fargo & Company MN increased its stake in Dolby Laboratories by 9.0% in the first quarter. Wells Fargo & Company MN now owns 554,497 shares of the electronics maker’s stock worth $29,061,000 after buying an additional 45,554 shares in the last quarter. Spot Trading L.L.C. bought a new stake in Dolby Laboratories during the first quarter worth about $660,000. Finally, Eqis Capital Management Inc. bought a new stake in Dolby Laboratories during the first quarter worth about $249,000. 51.87% of the stock is currently owned by institutional investors and hedge funds.
Dolby Laboratories (NYSE:DLB) opened at 49.49 on Wednesday. The company has a market cap of $5.08 billion, a PE ratio of 25.31 and a beta of 0.79. Dolby Laboratories has a 12-month low of $44.99 and a 12-month high of $55.02. The company’s 50-day moving average price is $51.14 and its 200-day moving average price is $50.79.
Dolby Laboratories (NYSE:DLB) last issued its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. The business had revenue of $305.67 million during the quarter, compared to analysts’ expectations of $296.88 million. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.25%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 earnings per share. Equities analysts anticipate that Dolby Laboratories will post $1.99 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, August 7th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, August 3rd. This represents a $0.56 annualized dividend and a dividend yield of 1.13%. Dolby Laboratories’s payout ratio is 28.57%.
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DLB has been the topic of a number of recent research reports. BidaskClub downgraded Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research downgraded Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, B. Riley raised Dolby Laboratories from a “neutral” rating to a “buy” rating and lifted their target price for the company from $57.00 to $61.50 in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $54.38.
In other news, major shareholder Dagmar Dolby sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $52.22, for a total transaction of $5,222,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin J. Yeaman sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $51.79, for a total transaction of $517,900.00. The disclosure for this sale can be found here. Insiders have sold 1,260,000 shares of company stock valued at $63,421,900 over the last three months. 43.80% of the stock is owned by corporate insiders.
About Dolby Laboratories
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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