Dolby Laboratories, Inc. (NYSE:DLB) Stake Trimmed by American International Group Inc.

American International Group Inc. lowered its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,441 shares of the electronics maker’s stock after selling 3,462 shares during the quarter. American International Group Inc.’s holdings in Dolby Laboratories were worth $6,932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of DLB. VisionPoint Advisory Group LLC increased its stake in Dolby Laboratories by 86.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 172 shares in the last quarter. Blue Trust Inc. increased its stake in Dolby Laboratories by 75.7% in the 4th quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 159 shares in the last quarter. Quarry LP purchased a new position in Dolby Laboratories in the 4th quarter worth about $37,000. Quadrant Capital Group LLC increased its stake in Dolby Laboratories by 65.0% in the 4th quarter. Quadrant Capital Group LLC now owns 505 shares of the electronics maker’s stock worth $44,000 after purchasing an additional 199 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in Dolby Laboratories by 36.8% in the 4th quarter. Fifth Third Bancorp now owns 610 shares of the electronics maker’s stock worth $53,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $79.62, for a total transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 39.54% of the company’s stock.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock opened at $79.10 on Friday. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 40.36 and a beta of 0.99. Dolby Laboratories, Inc. has a 52-week low of $75.87 and a 52-week high of $91.01. The stock has a 50-day simple moving average of $80.13 and a 200-day simple moving average of $82.44.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, May 2nd. The electronics maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $361.98 million. As a group, equities research analysts predict that Dolby Laboratories, Inc. will post 2.68 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have weighed in on DLB shares. Barrington Research raised Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research note on Monday, June 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 price target on shares of Dolby Laboratories in a report on Friday, June 7th. Finally, StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, May 11th.

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.