Leuthold Group LLC Decreases Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Leuthold Group LLC lowered its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 9.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 41,075 shares of the electronics maker’s stock after selling 4,433 shares during the period. Leuthold Group LLC’s holdings in Dolby Laboratories were worth $3,254,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Dolby Laboratories during the 4th quarter valued at $42,067,000. Bank of New York Mellon Corp increased its position in shares of Dolby Laboratories by 11.2% in the first quarter. Bank of New York Mellon Corp now owns 2,324,244 shares of the electronics maker’s stock valued at $194,702,000 after acquiring an additional 233,958 shares during the period. Acadian Asset Management LLC raised its stake in shares of Dolby Laboratories by 39.8% during the second quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock valued at $51,698,000 after acquiring an additional 185,884 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Dolby Laboratories by 27.0% during the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock valued at $62,817,000 after acquiring an additional 168,744 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Dolby Laboratories by 1.7% during the first quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock worth $544,711,000 after purchasing an additional 107,713 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Trading Up 1.1 %

NYSE:DLB opened at $72.67 on Thursday. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $90.06. The company has a 50-day moving average price of $73.75 and a 200-day moving average price of $78.44. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 37.08 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, topping the consensus estimate of $0.33 by $0.14. The business had revenue of $288.82 million during the quarter, compared to analyst estimates of $286.26 million. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. Equities analysts forecast that Dolby Laboratories, Inc. will post 2.72 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.65%. Dolby Laboratories’s dividend payout ratio is presently 61.22%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DLB. Barrington Research restated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Friday, August 9th. 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.

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.