Dolby Laboratories, Inc. (NYSE:DLB) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp increased its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 36.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 610 shares of the electronics maker’s stock after acquiring an additional 164 shares during the quarter. Fifth Third Bancorp’s holdings in Dolby Laboratories were worth $53,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DLB. Morgan Stanley increased its stake in shares of Dolby Laboratories by 577.7% in the fourth quarter. Morgan Stanley now owns 4,365,832 shares of the electronics maker’s stock valued at $307,966,000 after purchasing an additional 3,721,613 shares during the period. First Trust Advisors LP grew its holdings in Dolby Laboratories by 320.2% in the 1st quarter. First Trust Advisors LP now owns 1,081,747 shares of the electronics maker’s stock worth $84,614,000 after buying an additional 824,296 shares in the last quarter. Norges Bank acquired a new stake in Dolby Laboratories in the 4th quarter valued at approximately $38,977,000. Kayne Anderson Rudnick Investment Management LLC increased its position in Dolby Laboratories by 4.8% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock valued at $415,808,000 after acquiring an additional 239,578 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new stake in Dolby Laboratories in the 3rd quarter valued at approximately $18,702,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Wall Street Analyst Weigh In

DLB has been the topic of several analyst reports. StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Rosenblatt Securities restated a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a research report on Wednesday, January 31st.

Dolby Laboratories Stock Performance

Shares of NYSE DLB opened at $81.36 on Thursday. The stock has a fifty day moving average price of $81.78 and a two-hundred day moving average price of $83.36. The firm has a market cap of $7.78 billion, a P/E ratio of 42.16 and a beta of 0.97. Dolby Laboratories, Inc. has a 1 year low of $75.87 and a 1 year high of $91.01.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.14. The firm had revenue of $315.57 million during the quarter, compared to analyst estimates of $310.98 million. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. On average, research analysts predict that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Tuesday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, February 12th. Dolby Laboratories’s dividend payout ratio is presently 62.18%.

Insider Transactions at Dolby Laboratories

In other news, SVP John D. Couling sold 33,560 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the completion of the sale, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at approximately $8,769,420.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kevin J. Yeaman sold 9,030 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $83.51, for a total value of $754,095.30. Following the completion of the sale, the chief executive officer now owns 83,721 shares of the company’s stock, valued at $6,991,540.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John D. Couling sold 33,560 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $80.81, for a total value of $2,711,983.60. Following the completion of the sale, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at approximately $8,769,420.39. The disclosure for this sale can be found here. Corporate 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.