Cwm LLC Grows Position in Dolby Laboratories, Inc. (NYSE:DLB)

Cwm LLC raised its position in Dolby Laboratories, Inc. (NYSE:DLB) by 27.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,978 shares of the electronics maker’s stock after buying an additional 868 shares during the quarter. Cwm LLC’s holdings in Dolby Laboratories were worth $304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Dolby Laboratories by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock valued at $544,711,000 after acquiring an additional 107,713 shares during the period. Ninety One UK Ltd grew its position in Dolby Laboratories by 2.6% during the 2nd quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker’s stock worth $185,791,000 after purchasing an additional 60,114 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Dolby Laboratories by 0.8% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,402,623 shares of the electronics maker’s stock valued at $111,130,000 after purchasing an additional 10,852 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Dolby Laboratories by 3.5% in the second quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker’s stock valued at $80,041,000 after buying an additional 33,848 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted 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 worth $62,817,000 after buying an additional 168,744 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, September 20th.

Insider Transactions at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 28,512 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total value of $2,113,309.44. Following the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at $6,205,400.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 39.54% of the company’s stock.

Dolby Laboratories Price Performance

NYSE:DLB opened at $74.25 on Tuesday. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 37.88 and a beta of 0.97. The firm’s fifty day moving average price is $72.47 and its 200 day moving average price is $77.01. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $90.06.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, topping the consensus estimate of $0.33 by $0.14. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. The company had revenue of $288.82 million during the quarter, compared to analysts’ expectations of $286.26 million. As a group, analysts expect that Dolby Laboratories, Inc. will post 2.72 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Monday, August 19th. Dolby Laboratories’s payout ratio is 61.22%.

Dolby Laboratories announced that its board has approved a share repurchase program on Wednesday, August 7th that authorizes the company to buyback $350.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.