SG Americas Securities LLC acquired a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,526 shares of the electronics maker’s stock, valued at approximately $777,000.
A number of other hedge funds also recently modified their holdings of DLB. Janus Henderson Group PLC raised its stake in Dolby Laboratories by 352.2% in the third quarter. Janus Henderson Group PLC now owns 2,657,618 shares of the electronics maker’s stock valued at $152,875,000 after buying an additional 2,069,849 shares during the last quarter. Schroder Investment Management Group purchased a new stake in Dolby Laboratories in the third quarter valued at about $35,761,000. TimesSquare Capital Management LLC raised its stake in Dolby Laboratories by 6.9% in the third quarter. TimesSquare Capital Management LLC now owns 1,795,000 shares of the electronics maker’s stock valued at $103,248,000 after buying an additional 116,500 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in Dolby Laboratories in the third quarter valued at about $4,531,000. Finally, New York State Common Retirement Fund raised its stake in Dolby Laboratories by 26.1% in the third quarter. New York State Common Retirement Fund now owns 375,424 shares of the electronics maker’s stock valued at $21,594,000 after buying an additional 77,766 shares during the last quarter. 53.79% of the stock is currently owned by institutional investors.
In other news, CEO Kevin J. Yeaman sold 11,130 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $62.47, for a total value of $695,291.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Bob Borchers sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $62.72, for a total value of $3,136,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 649,085 shares of company stock valued at $40,507,528. Company insiders own 43.74% of the company’s stock.
A number of research firms have commented on DLB. B. Riley cut Dolby Laboratories to a “hold” rating and set a $63.00 price target for the company. in a research note on Thursday, January 25th. Zacks Investment Research cut Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, JPMorgan Chase & Co. increased their price target on Dolby Laboratories from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Dolby Laboratories presently has a consensus rating of “Hold” and a consensus price target of $62.00.
Shares of Dolby Laboratories, Inc. (NYSE:DLB) opened at $63.37 on Monday. Dolby Laboratories, Inc. has a 12 month low of $48.00 and a 12 month high of $74.29. The company has a market capitalization of $6,560.32, a PE ratio of 26.85, a price-to-earnings-growth ratio of 5.33 and a beta of 0.78.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.35. Dolby Laboratories had a return on equity of 12.02% and a net margin of 6.06%. The company had revenue of $287.80 million during the quarter, compared to analysts’ expectations of $265.75 million. During the same period last year, the business posted $0.66 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. analysts expect that Dolby Laboratories, Inc. will post 0.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, February 2nd. Dolby Laboratories’s payout ratio is 101.59%.
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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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