Dolby Laboratories, Inc. (NYSE:DLB) Stock Holdings Trimmed by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC decreased its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 11.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,068 shares of the electronics maker’s stock after selling 2,571 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Dolby Laboratories were worth $1,597,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. NEOS Investment Management LLC grew its position in Dolby Laboratories by 5.0% in the 4th quarter. NEOS Investment Management LLC now owns 2,709 shares of the electronics maker’s stock valued at $233,000 after buying an additional 129 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of Dolby Laboratories by 1.4% during the 4th quarter. Bleakley Financial Group LLC now owns 9,444 shares of the electronics maker’s stock worth $814,000 after buying an additional 134 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of Dolby Laboratories by 5.1% in the 4th quarter. Whittier Trust Co. now owns 3,223 shares of the electronics maker’s stock worth $278,000 after acquiring an additional 156 shares during the period. Blue Trust Inc. boosted its holdings in shares of Dolby Laboratories by 75.7% in the fourth quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 159 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC increased its stake in shares of Dolby Laboratories by 1.9% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 8,799 shares of the electronics maker’s stock valued at $758,000 after acquiring an additional 161 shares during the period. 58.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total transaction of $181,772.46. Following the transaction, the executive vice president now directly owns 58,325 shares in the company, valued at approximately $4,643,836.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 39.54% of the stock is owned by company insiders.

Dolby Laboratories Stock Performance

Shares of NYSE DLB traded down $1.90 during trading on Friday, hitting $78.90. The company had a trading volume of 265,122 shares, compared to its average volume of 371,534. Dolby Laboratories, Inc. has a 52 week low of $75.87 and a 52 week high of $90.06. The business’s 50-day moving average is $80.12 and its 200 day moving average is $81.41. The company has a market cap of $7.56 billion, a P/E ratio of 40.59 and a beta of 0.99.

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

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Monday, May 13th. Dolby Laboratories’s dividend payout ratio (DPR) is currently 61.22%.

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.