Alaska Permanent Fund Corp Cuts Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Alaska Permanent Fund Corp lessened its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,760 shares of the electronics maker’s stock after selling 368 shares during the period. Alaska Permanent Fund Corp owned approximately 0.13% of Dolby Laboratories worth $10,924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DLB. Linden Thomas Advisory Services LLC grew its holdings in shares of Dolby Laboratories by 1.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 8,799 shares of the electronics maker’s stock valued at $758,000 after purchasing an additional 161 shares during the last quarter. Telemus Capital LLC grew its holdings in shares of Dolby Laboratories by 11.0% during the 4th quarter. Telemus Capital LLC now owns 12,934 shares of the electronics maker’s stock valued at $1,115,000 after purchasing an additional 1,284 shares during the last quarter. Ninety One SA PTY Ltd bought a new position in shares of Dolby Laboratories during the 4th quarter valued at $6,646,000. Ninety One UK Ltd grew its holdings in shares of Dolby Laboratories by 29.0% during the 4th quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock valued at $221,685,000 after purchasing an additional 578,239 shares during the last quarter. Finally, Ninety One North America Inc. grew its holdings in Dolby Laboratories by 2.9% in the 4th quarter. Ninety One North America Inc. now owns 106,001 shares of the electronics maker’s stock worth $9,135,000 after acquiring an additional 3,024 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Stock Down 0.5 %

Shares of NYSE:DLB traded down $0.39 on Thursday, hitting $79.19. The company had a trading volume of 2,617 shares, compared to its average volume of 361,993. The firm’s 50-day simple moving average is $81.57 and its two-hundred day simple moving average is $83.36. Dolby Laboratories, Inc. has a 1 year low of $75.87 and a 1 year high of $91.01. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 41.26 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.14. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. The company had revenue of $315.57 million during the quarter, compared to analysts’ expectations of $310.98 million. Equities research analysts anticipate that Dolby Laboratories, Inc. will post 2.6 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were given a dividend of $0.30 per share. The ex-dividend date was Monday, February 12th. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. Dolby Laboratories’s dividend payout ratio (DPR) is currently 62.18%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DLB shares. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a report on Wednesday, January 31st. StockNews.com raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Friday, February 2nd.

Insider Activity at Dolby Laboratories

In related news, SVP John D. Couling sold 33,560 shares of Dolby Laboratories stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the completion of the transaction, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at approximately $8,769,420.39. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 39.54% of the stock is currently owned by corporate insiders.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.