Thrivent Financial for Lutherans Has $2.49 Million Position in Dolby Laboratories $DLB

Thrivent Financial for Lutherans cut its position in Dolby Laboratories (NYSE:DLB) by 49.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,355 shares of the electronics maker’s stock after selling 33,637 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Dolby Laboratories were worth $2,486,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. First Horizon Corp acquired a new stake in shares of Dolby Laboratories during the third quarter worth $25,000. Allworth Financial LP raised its stake in Dolby Laboratories by 590.4% in the 2nd quarter. Allworth Financial LP now owns 504 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 431 shares in the last quarter. Mather Group LLC. acquired a new stake in Dolby Laboratories in the 3rd quarter worth about $38,000. Ameritas Advisory Services LLC bought a new stake in Dolby Laboratories in the 2nd quarter valued at about $48,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Dolby Laboratories during the 2nd quarter worth approximately $50,000. Institutional investors own 58.56% of the company’s stock.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 7,273 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $68.75, for a total transaction of $500,018.75. Following the sale, the senior vice president owned 108,065 shares of the company’s stock, valued at approximately $7,429,468.75. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin J. Yeaman sold 6,751 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $67.24, for a total value of $453,937.24. Following the completion of the transaction, the chief executive officer directly owned 98,377 shares of the company’s stock, valued at $6,614,869.48. This represents a 6.42% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 137,120 shares of company stock valued at $9,184,809. 37.93% of the stock is currently owned by company insiders.

Dolby Laboratories Price Performance

NYSE DLB opened at $68.15 on Wednesday. The business has a fifty day moving average price of $64.76 and a two-hundred day moving average price of $68.24. The stock has a market capitalization of $6.51 billion, a PE ratio of 27.48 and a beta of 0.86. Dolby Laboratories has a fifty-two week low of $60.14 and a fifty-two week high of $85.21.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.07. Dolby Laboratories had a return on equity of 11.50% and a net margin of 17.97%.The company had revenue of $346.71 million for the quarter, compared to analyst estimates of $341.26 million. During the same quarter last year, the company posted $1.14 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.1%. Dolby Laboratories’s dividend payout ratio is 58.06%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DLB shares. Barrington Research dropped their price target on shares of Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, January 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Dolby Laboratories in a report on Friday, January 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Dolby Laboratories in a report on Monday, December 29th. Finally, Wall Street Zen downgraded Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Dolby Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $90.75.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.