LVW Advisors LLC Lowers Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

LVW Advisors LLC decreased its position in Dolby Laboratories, Inc. (NYSE:DLB) by 3.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,708 shares of the electronics maker’s stock after selling 218 shares during the period. LVW Advisors LLC’s holdings in Dolby Laboratories were worth $562,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Dolby Laboratories by 3.3% in the third quarter. Vanguard Group Inc. now owns 6,389,084 shares of the electronics maker’s stock valued at $506,399,000 after purchasing an additional 205,319 shares during the period. Morgan Stanley lifted its holdings in Dolby Laboratories by 11.9% during the third quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock worth $388,556,000 after buying an additional 523,250 shares during the period. Ninety One UK Ltd lifted its holdings in Dolby Laboratories by 29.0% during the fourth quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock worth $221,685,000 after buying an additional 578,239 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Dolby Laboratories by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 681,152 shares of the electronics maker’s stock worth $58,702,000 after buying an additional 10,389 shares during the period. Finally, Fiera Capital Corp lifted its holdings in Dolby Laboratories by 0.8% during the fourth quarter. Fiera Capital Corp now owns 582,962 shares of the electronics maker’s stock worth $50,240,000 after buying an additional 4,680 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Trading Up 1.3 %

Shares of DLB opened at $80.24 on Tuesday. Dolby Laboratories, Inc. has a 12 month low of $75.87 and a 12 month high of $91.01. The stock has a fifty day moving average price of $80.24 and a 200-day moving average price of $81.91. The firm has a market cap of $7.69 billion, a PE ratio of 40.94 and a beta of 0.99.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, May 2nd. The electronics maker reported $1.01 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 firm had revenue of $364.52 million during the quarter, compared to analyst estimates of $361.98 million. As a group, research analysts forecast that Dolby Laboratories, Inc. will post 2.68 EPS for the current year.

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. Dolby Laboratories’s dividend payout ratio is presently 61.22%.

Insider Activity

In other news, EVP Mark Andrew Sherman sold 2,283 shares of the stock in a transaction 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 in the company, valued at approximately $4,643,836.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 39.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barrington Research upgraded Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a report on Monday, June 3rd. Rosenblatt Securities restated a “buy” rating and set a $98.00 target price 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.

About Dolby Laboratories

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.