Nordea Investment Management AB raised its holdings in shares of Dolby Laboratories (NYSE:DLB) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,758 shares of the electronics maker’s stock after purchasing an additional 1,928 shares during the quarter. Nordea Investment Management AB’s holdings in Dolby Laboratories were worth $2,229,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Dolby Laboratories by 9.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock worth $114,000 after purchasing an additional 209 shares during the last quarter. US Bancorp DE lifted its position in shares of Dolby Laboratories by 2.6% during the second quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock worth $149,000 after purchasing an additional 78 shares during the last quarter. Berkshire Asset Management LLC PA bought a new stake in shares of Dolby Laboratories during the third quarter worth $200,000. CIBC Asset Management Inc purchased a new position in shares of Dolby Laboratories during the third quarter valued at $204,000. Finally, The Manufacturers Life Insurance Company increased its stake 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 valued at $174,000 after buying an additional 725 shares during the period. Institutional investors and hedge funds own 52.53% of the company’s stock.

In related news, insider Kevin J. Yeaman sold 45,000 shares of Dolby Laboratories stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $56.46, for a total transaction of $2,540,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bob Borchers sold 116,821 shares of Dolby Laboratories stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $61.15, for a total value of $7,143,604.15. The disclosure for this sale can be found here. Insiders have sold 570,095 shares of company stock worth $34,617,013 in the last 90 days. Insiders own 43.80% of the company’s stock.

Several equities analysts have recently commented on DLB shares. B. Riley restated a “buy” rating and set a $65.50 price target on shares of Dolby Laboratories in a research note on Thursday, October 26th. BidaskClub lowered Dolby Laboratories from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Dougherty & Co restated a “buy” rating and set a $63.00 price target on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Piper Jaffray Companies restated 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. Finally, Zacks Investment Research lowered Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $60.17.

Dolby Laboratories (NYSE:DLB) traded down $0.23 on Thursday, reaching $61.17. The company’s stock had a trading volume of 303,800 shares, compared to its average volume of 382,949. Dolby Laboratories has a 52 week low of $44.98 and a 52 week high of $63.34. The stock has a market capitalization of $6,280.48, a price-to-earnings ratio of 29.52, a PEG ratio of 2.28 and a beta of 0.86.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.18. Dolby Laboratories had a return on equity of 10.62% and a net margin of 18.66%. The business had revenue of $242.05 million for the quarter, compared to analyst estimates of $244.80 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. equities analysts anticipate that Dolby Laboratories will post 2.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th were paid a dividend of $0.16 per share. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. Dolby Laboratories’s payout ratio is presently 32.99%.

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

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