Dolby Laboratories, Inc. (NYSE:DLB) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 37.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,326 shares of the electronics maker’s stock after purchasing an additional 1,465 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Dolby Laboratories were worth $408,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DLB. First Affirmative Financial Network lifted its holdings in shares of Dolby Laboratories by 4.9% in the 2nd quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker’s stock valued at $219,000 after purchasing an additional 129 shares during the last quarter. LRI Investments LLC lifted its holdings in shares of Dolby Laboratories by 6.0% in the 2nd quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock valued at $182,000 after purchasing an additional 130 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Dolby Laboratories by 5.1% in the 2nd quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock valued at $251,000 after purchasing an additional 153 shares during the last quarter. Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of Dolby Laboratories by 1.3% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock valued at $1,095,000 after purchasing an additional 174 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Dolby Laboratories by 64.6% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 192 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday. 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.

Dolby Laboratories Stock Down 0.9 %

DLB opened at $75.15 on Friday. The business has a 50 day moving average price of $73.26 and a two-hundred day moving average price of $76.35. The company has a market cap of $7.17 billion, a PE ratio of 34.32 and a beta of 0.98. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.33 by $0.14. The firm had revenue of $288.82 million during the quarter, compared to the consensus estimate of $286.26 million. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. As a group, sell-side analysts expect that Dolby Laboratories, Inc. will post 2.71 EPS for the current fiscal year.

Dolby Laboratories declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that allows the company to buyback $350.00 million in shares. This buyback authorization allows the electronics maker to repurchase up to 5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 28,512 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 of the company’s stock, valued at approximately $6,205,400.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 39.54% of the stock is owned by company insiders.

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.