Signaturefd LLC Sells 852 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Signaturefd LLC reduced its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 26.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,315 shares of the electronics maker’s stock after selling 852 shares during the quarter. Signaturefd LLC’s holdings in Dolby Laboratories were worth $177,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DLB. Vanguard Group Inc. grew its holdings in shares of Dolby Laboratories by 1.7% during the 1st 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 in the last quarter. Ninety One UK Ltd grew its stake in Dolby Laboratories by 2.6% during the second quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker’s stock worth $185,791,000 after buying an additional 60,114 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in Dolby Laboratories by 0.8% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,402,623 shares of the electronics maker’s stock valued at $111,130,000 after buying an additional 10,852 shares during the period. Mackenzie Financial Corp raised its position in shares of Dolby Laboratories by 3.5% in the 2nd 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Dolby Laboratories by 27.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after acquiring an additional 168,744 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Kevin J. Yeaman sold 28,512 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 83,721 shares in the company, valued at approximately $6,205,400.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 39.54% of the company’s stock.

Analysts Set New Price Targets

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

Dolby Laboratories Stock Up 0.4 %

Dolby Laboratories stock opened at $72.79 on Monday. The stock has a market cap of $6.98 billion, a PE ratio of 37.14 and a beta of 0.97. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $90.06. The business’s 50-day moving average price is $72.78 and its two-hundred day moving average price is $76.68.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.14. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. The business 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 year.

Dolby Laboratories declared that its Board of Directors has approved a stock buyback 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 repurchase up to 5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Dolby Laboratories Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.65%. Dolby Laboratories’s dividend payout ratio is currently 61.22%.

About Dolby Laboratories

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.