Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA cut its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLBFree Report) by 40.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,597 shares of the electronics maker’s stock after selling 13,237 shares during the quarter. Glenmede Trust Co. NA’s holdings in Dolby Laboratories were worth $1,553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in shares of Dolby Laboratories by 1.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,517 shares of the electronics maker’s stock worth $754,000 after purchasing an additional 118 shares during the period. Principal Financial Group Inc. boosted its holdings in Dolby Laboratories by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 5,970 shares of the electronics maker’s stock valued at $510,000 after acquiring an additional 128 shares during the period. Cerity Partners LLC boosted its holdings in Dolby Laboratories by 3.7% during the 2nd quarter. Cerity Partners LLC now owns 3,652 shares of the electronics maker’s stock valued at $306,000 after acquiring an additional 130 shares during the period. Treasurer of the State of North Carolina boosted its holdings in Dolby Laboratories by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 26,817 shares of the electronics maker’s stock valued at $2,126,000 after acquiring an additional 133 shares during the period. Finally, Horizon Investments LLC boosted its holdings in Dolby Laboratories by 19.4% during the 2nd quarter. Horizon Investments LLC now owns 831 shares of the electronics maker’s stock valued at $70,000 after acquiring an additional 135 shares during the period. 56.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DLB has been the subject of a number of research analyst reports. Rosenblatt Securities restated a “buy” rating and set a $98.00 target price on shares of Dolby Laboratories in a report on Wednesday, January 31st. StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd.

Check Out Our Latest Research Report on DLB

Insider Transactions at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 18,060 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $89.17, for a total transaction of $1,610,410.20. Following the sale, the chief executive officer now owns 51,879 shares of the company’s stock, valued at approximately $4,626,050.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Mark Andrew Sherman sold 8,856 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $86.19, for a total transaction of $763,298.64. Following the sale, the executive vice president now owns 59,988 shares of the company’s stock, valued at approximately $5,170,365.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin J. Yeaman sold 18,060 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $89.17, for a total value of $1,610,410.20. Following the sale, the chief executive officer now directly owns 51,879 shares in the company, valued at approximately $4,626,050.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,506 shares of company stock valued at $5,839,788. Corporate insiders own 39.54% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of DLB opened at $82.38 on Friday. The stock has a 50-day simple moving average of $82.52 and a 200-day simple moving average of $83.36. The stock has a market capitalization of $7.87 billion, a PE ratio of 42.68 and a beta of 0.97. Dolby Laboratories, Inc. has a 1 year low of $75.87 and a 1 year high of $91.01.

Dolby Laboratories (NYSE:DLBGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.14. The business had revenue of $315.57 million during the quarter, compared to analysts’ expectations of $310.98 million. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. Analysts predict that Dolby Laboratories, Inc. will post 2.63 EPS for the current year.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Tuesday, February 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Monday, February 12th. Dolby Laboratories’s payout ratio is presently 62.18%.

About Dolby Laboratories

(Free Report)

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.

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Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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