Stephens Inc. AR Sells 2,031 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Stephens Inc. AR reduced its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 39.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,160 shares of the electronics maker’s stock after selling 2,031 shares during the quarter. Stephens Inc. AR’s holdings in Dolby Laboratories were worth $242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DLB. Blue Trust Inc. grew its stake in shares of Dolby Laboratories by 398.8% during the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after buying an additional 331 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Dolby Laboratories during the second quarter worth about $37,000. GAMMA Investing LLC boosted its holdings in shares of Dolby Laboratories by 64.6% during the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 192 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Dolby Laboratories by 192.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock worth $46,000 after purchasing an additional 379 shares during the period. Finally, Headlands Technologies LLC boosted its holdings in shares of Dolby Laboratories by 693.3% during the first quarter. Headlands Technologies LLC now owns 595 shares of the electronics maker’s stock worth $50,000 after purchasing an additional 520 shares during the period. 58.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DLB has been the subject of a number of analyst reports. StockNews.com upgraded shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday. Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a report on Friday, September 20th.

Dolby Laboratories Price Performance

Shares of DLB opened at $75.14 on Friday. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $90.06. The company has a 50-day simple moving average of $73.26 and a two-hundred day simple moving average of $76.37. The firm has a market capitalization of $7.16 billion, a PE ratio of 34.31 and a beta of 0.98.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $288.82 million during the quarter, compared to analyst estimates of $286.26 million. Analysts expect that Dolby Laboratories, Inc. will post 2.71 EPS for the current fiscal year.

Dolby Laboratories announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 7th that permits the company to buyback $350.00 million in shares. This buyback authorization permits the electronics maker to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

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

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.