Versor Investments LP Acquires Shares of 13,604 Dolby Laboratories $DLB

Versor Investments LP bought a new stake in Dolby Laboratories (NYSE:DLB) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,604 shares of the electronics maker’s stock, valued at approximately $985,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Corp bought a new stake in Dolby Laboratories in the 3rd quarter valued at about $25,000. Hantz Financial Services Inc. increased its stake in shares of Dolby Laboratories by 166.7% in the third quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. Allworth Financial LP raised its position in shares of Dolby Laboratories by 590.4% in the second quarter. Allworth Financial LP now owns 504 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 431 shares during the period. Mather Group LLC. bought a new stake in shares of Dolby Laboratories in the third quarter valued at approximately $38,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Dolby Laboratories during the 2nd quarter valued at approximately $48,000. Institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 36,699 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $66.91, for a total value of $2,455,530.09. Following the completion of the sale, the chief executive officer directly owned 114,725 shares in the company, valued at approximately $7,676,249.75. The trade was a 24.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Andrew Sherman sold 9,109 shares of Dolby Laboratories stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $66.73, for a total transaction of $607,843.57. Following the completion of the transaction, the executive vice president owned 73,054 shares in the company, valued at approximately $4,874,893.42. The trade was a 11.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 137,120 shares of company stock valued at $9,184,809 over the last ninety days. Insiders own 37.93% of the company’s stock.

Dolby Laboratories Stock Performance

Dolby Laboratories stock opened at $68.15 on Wednesday. Dolby Laboratories has a fifty-two week low of $60.14 and a fifty-two week high of $85.21. The firm’s fifty day moving average price is $64.76 and its 200-day moving average price is $68.24. The stock has a market cap of $6.51 billion, a P/E ratio of 27.48 and a beta of 0.86.

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

Dolby Laboratories Dividend Announcement

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

Analyst Ratings Changes

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

About Dolby Laboratories

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.