Dolby Laboratories $DLB Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC raised its holdings in shares of Dolby Laboratories (NYSE:DLB) by 16.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,069 shares of the electronics maker’s stock after acquiring an additional 12,550 shares during the period. ProShare Advisors LLC owned approximately 0.09% of Dolby Laboratories worth $6,518,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of DLB. State Street Corp raised its stake in shares of Dolby Laboratories by 8.7% during the second quarter. State Street Corp now owns 2,261,059 shares of the electronics maker’s stock valued at $167,906,000 after purchasing an additional 180,072 shares in the last quarter. AQR Capital Management LLC increased its stake in Dolby Laboratories by 51.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,736,260 shares of the electronics maker’s stock valued at $128,935,000 after buying an additional 592,282 shares during the period. Geode Capital Management LLC increased its stake in Dolby Laboratories by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,556,571 shares of the electronics maker’s stock valued at $116,159,000 after buying an additional 30,057 shares during the period. Frontier Capital Management Co. LLC raised its position in shares of Dolby Laboratories by 2.3% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,237,667 shares of the electronics maker’s stock worth $91,909,000 after buying an additional 28,243 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Dolby Laboratories by 35.2% in the 2nd quarter. First Trust Advisors LP now owns 1,237,443 shares of the electronics maker’s stock worth $91,893,000 after acquiring an additional 322,063 shares during the period. Institutional investors own 58.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented 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. Wall Street Zen downgraded Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Barrington Research decreased their target price on Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, January 26th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Dolby Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $90.75.

Dolby Laboratories Stock Performance

Shares of NYSE:DLB opened at $66.55 on Friday. The company has a market capitalization of $6.36 billion, a PE ratio of 26.83 and a beta of 0.86. The stock has a fifty day moving average of $64.83 and a 200-day moving average of $68.24. Dolby Laboratories has a one year low of $60.14 and a one year high of $85.21.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $341.26 million. During the same period in the previous year, the firm posted $1.14 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, research analysts forecast that Dolby Laboratories will post 2.94 EPS for the current fiscal 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 issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, February 10th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 58.06%.

Insider Activity

In other news, SVP John D. Couling sold 7,273 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $68.75, for a total transaction of $500,018.75. Following the sale, the senior vice president owned 108,065 shares in the company, valued at $7,429,468.75. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Shriram Revankar sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $65.55, for a total transaction of $196,650.00. Following the completion of the transaction, the senior vice president directly owned 67,435 shares of the company’s stock, valued at $4,420,364.25. This represents a 4.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 137,120 shares of company stock valued at $9,184,809. 37.93% of the stock is currently owned by insiders.

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.