Blair William & Co. IL Sells 46,891 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Blair William & Co. IL reduced its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 40.4% in the second quarter, HoldingsChannel reports. The firm owned 69,286 shares of the electronics maker’s stock after selling 46,891 shares during the quarter. Blair William & Co. IL’s holdings in Dolby Laboratories were worth $5,490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Mather Group LLC. purchased a new stake in Dolby Laboratories during the first quarter valued at approximately $33,000. Blue Trust Inc. raised its holdings in Dolby Laboratories by 398.8% in the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 331 shares during the period. Quarry LP purchased a new position in Dolby Laboratories during the fourth quarter valued at $37,000. GAMMA Investing LLC grew its holdings in Dolby Laboratories by 64.6% during the second 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 period. Finally, Sunbelt Securities Inc. increased its position in Dolby Laboratories by 1,631.0% in the first quarter. Sunbelt Securities Inc. now owns 502 shares of the electronics maker’s stock worth $42,000 after buying an additional 473 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on DLB shares. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a research note on Friday, June 7th. Barrington Research reiterated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Friday.

Dolby Laboratories Stock Up 0.9 %

Shares of DLB stock opened at $73.26 on Friday. The company’s fifty day simple moving average is $73.35 and its two-hundred day simple moving average is $78.27. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06. The stock has a market cap of $7.02 billion, a P/E ratio of 37.38 and a beta of 0.97.

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

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

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Monday, August 19th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 61.22%.

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.