Thrive Wealth Management LLC Makes New $206,000 Investment in Dolby Laboratories, Inc. (NYSE:DLB)

Thrive Wealth Management LLC purchased a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,465 shares of the electronics maker’s stock, valued at approximately $206,000.

Several other large investors also recently bought and sold shares of the business. Cardinal Capital Management increased its position in Dolby Laboratories by 15.9% during the first quarter. Cardinal Capital Management now owns 34,403 shares of the electronics maker’s stock valued at $2,882,000 after acquiring an additional 4,710 shares during the last quarter. Janiczek Wealth Management LLC grew its position in Dolby Laboratories by 14.0% during the first quarter. Janiczek Wealth Management LLC now owns 4,618 shares of the electronics maker’s stock valued at $387,000 after buying an additional 567 shares during the period. Sunbelt Securities Inc. raised its holdings in Dolby Laboratories by 1,631.0% in the 1st quarter. Sunbelt Securities Inc. now owns 502 shares of the electronics maker’s stock worth $42,000 after purchasing an additional 473 shares during the period. MJP Associates Inc. ADV lifted its position in Dolby Laboratories by 27.2% during the first quarter. MJP Associates Inc. ADV now owns 3,436 shares of the electronics maker’s stock valued at $288,000 after purchasing an additional 735 shares in the last quarter. Finally, Alaska Permanent Fund Corp grew its holdings in Dolby Laboratories by 0.8% during the first quarter. Alaska Permanent Fund Corp now owns 127,818 shares of the electronics maker’s stock valued at $10,707,000 after purchasing an additional 1,058 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total value of $181,772.46. Following the completion of the sale, the executive vice president now owns 58,325 shares of the company’s stock, valued at $4,643,836.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 39.54% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock traded up $0.61 on Thursday, hitting $79.24. 391,676 shares of the company traded hands, compared to its average volume of 370,959. Dolby Laboratories, Inc. has a 52 week low of $75.87 and a 52 week high of $91.01. The business has a 50-day simple moving average of $80.19 and a 200 day simple moving average of $82.13. The stock has a market capitalization of $7.59 billion, a P/E ratio of 40.43 and a beta of 0.99.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, May 2nd. The electronics maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.15%. The business had revenue of $364.52 million for the quarter, compared to analysts’ expectations of $361.98 million. Research analysts expect that Dolby Laboratories, Inc. will post 2.68 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Monday, May 13th. Dolby Laboratories’s payout ratio is 61.22%.

Analyst Ratings Changes

A number of brokerages recently issued reports on DLB. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a research note on Friday, June 7th. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th. Finally, Barrington Research raised shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a report on Monday, June 3rd.

Dolby Laboratories 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.