Capital World Investors decreased its stake in Dolby Laboratories (NYSE:DLB) by 18.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,898,930 shares of the electronics maker’s stock after selling 661,149 shares during the period. Capital World Investors owned 2.83% of Dolby Laboratories worth $141,932,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Alps Advisors Inc. boosted its holdings in shares of Dolby Laboratories by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,461 shares of the electronics maker’s stock valued at $463,000 after buying an additional 24 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Dolby Laboratories by 0.4% in the 1st quarter. Ameriprise Financial Inc. now owns 15,650 shares of the electronics maker’s stock valued at $821,000 after buying an additional 61 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Dolby Laboratories by 0.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 19,670 shares of the electronics maker’s stock valued at $1,031,000 after buying an additional 66 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Dolby Laboratories by 2.6% in the 2nd quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock valued at $149,000 after buying an additional 78 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in shares of Dolby Laboratories by 1.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 10,226 shares of the electronics maker’s stock valued at $501,000 after buying an additional 114 shares in the last quarter. Institutional investors and hedge funds own 51.87% of the company’s stock.

Several research analysts have recently issued reports on DLB shares. B. Riley set a $62.00 target price on shares of Dolby Laboratories and gave the company a “buy” rating in a report on Friday, August 18th. BidaskClub upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. Dougherty & Co reiterated a “buy” rating and set a $63.00 price target on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Zacks Investment Research upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $52.00 price target (up previously from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Dolby Laboratories presently has a consensus rating of “Hold” and a consensus target price of $58.83.

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In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 14,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $56.25, for a total transaction of $787,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin J. Yeaman sold 45,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $56.46, for a total transaction of $2,540,700.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,419,000 shares of company stock valued at $71,701,100. 43.80% of the stock is owned by insiders.

Shares of Dolby Laboratories (NYSE DLB) opened at 57.71 on Friday. The firm has a market cap of $5.92 billion, a PE ratio of 29.52 and a beta of 0.85. The company’s 50-day moving average is $53.90 and its 200-day moving average is $51.86. Dolby Laboratories has a 52 week low of $44.99 and a 52 week high of $59.79.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.10. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.25%. The firm had revenue of $305.67 million during the quarter, compared to analyst estimates of $296.88 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts forecast that Dolby Laboratories will post $1.99 EPS for the current fiscal year.

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.

Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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