Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,419 shares of the electronics maker’s stock after selling 900 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Dolby Laboratories were worth $1,674,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. VisionPoint Advisory Group LLC increased its position in shares of Dolby Laboratories by 86.9% during the third 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. grew its holdings in shares of Dolby Laboratories by 75.7% during the fourth quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock valued at $29,000 after buying an additional 159 shares during the last quarter. Quarry LP purchased a new stake in shares of Dolby Laboratories during the fourth quarter valued at $37,000. Quadrant Capital Group LLC grew its holdings in shares of Dolby Laboratories by 65.0% during the fourth quarter. Quadrant Capital Group LLC now owns 505 shares of the electronics maker’s stock valued at $44,000 after buying an additional 199 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Dolby Laboratories by 36.8% during the fourth quarter. Fifth Third Bancorp now owns 610 shares of the electronics maker’s stock valued at $53,000 after buying an additional 164 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 2,283 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total transaction of $181,772.46. Following the sale, the executive vice president now directly owns 58,325 shares of the company’s stock, valued at approximately $4,643,836.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 39.54% of the company’s stock.

Dolby Laboratories Stock Performance

NYSE:DLB opened at $79.99 on Friday. Dolby Laboratories, Inc. has a one year low of $75.87 and a one year high of $91.01. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 40.81 and a beta of 0.99. The firm’s fifty day moving average is $80.13 and its two-hundred day moving average is $82.35.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Thursday, May 2nd. The electronics maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.15%. The business had revenue of $364.52 million for 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 fiscal 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 paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Monday, May 13th. Dolby Laboratories’s payout ratio is currently 61.22%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DLB. Barrington Research raised shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Monday, June 3rd. Rosenblatt Securities reissued a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a report on Friday, June 7th. Finally, StockNews.com raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, May 11th.

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.