Quadrature Capital Ltd Invests $719,000 in Dolby Laboratories, Inc. (NYSE:DLB)

Quadrature Capital Ltd acquired a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 8,345 shares of the electronics maker’s stock, valued at approximately $719,000.

A number of other hedge funds have also modified their holdings of DLB. PNC Financial Services Group Inc. increased its stake in shares of Dolby Laboratories by 2.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 13,298 shares of the electronics maker’s stock worth $1,054,000 after purchasing an additional 312 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Dolby Laboratories during the 3rd quarter worth approximately $822,000. Envestnet Asset Management Inc. increased its stake in shares of Dolby Laboratories by 64.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 466,282 shares of the electronics maker’s stock worth $36,958,000 after purchasing an additional 181,904 shares in the last quarter. Invesco Ltd. increased its stake in shares of Dolby Laboratories by 38.1% during the 3rd quarter. Invesco Ltd. now owns 213,250 shares of the electronics maker’s stock worth $16,902,000 after purchasing an additional 58,783 shares in the last quarter. Finally, LPL Financial LLC increased its stake in shares of Dolby Laboratories by 13.3% during the 3rd quarter. LPL Financial LLC now owns 62,406 shares of the electronics maker’s stock worth $4,946,000 after purchasing an additional 7,312 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Up 1.0 %

Shares of DLB opened at $80.00 on Friday. The firm has a market cap of $7.67 billion, a PE ratio of 40.82 and a beta of 0.99. The company’s fifty day moving average is $80.13 and its two-hundred day moving average is $82.38. Dolby Laboratories, Inc. has a fifty-two week low of $75.87 and a fifty-two week high of $91.01.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, May 2nd. The electronics maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $364.52 million for the quarter, compared to analyst estimates of $361.98 million. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.15%. As a group, equities research analysts anticipate that Dolby Laboratories, Inc. will post 2.68 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 61.22%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DLB. Rosenblatt Securities restated a “buy” rating and set a $98.00 target price on shares of Dolby Laboratories in a research report 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 upgraded shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Monday, June 3rd.

Insider Buying and Selling at Dolby Laboratories

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

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.