Parametrica Management Ltd boosted its holdings in Dolby Laboratories (NYSE:DLB) by 66.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,764 shares of the electronics maker’s stock after buying an additional 4,699 shares during the period. Parametrica Management Ltd’s holdings in Dolby Laboratories were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its stake in Dolby Laboratories by 4.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 310,210 shares of the electronics maker’s stock valued at $15,188,000 after buying an additional 12,045 shares in the last quarter. Principal Financial Group Inc. grew its stake in Dolby Laboratories by 11.7% in the 2nd quarter. Principal Financial Group Inc. now owns 32,427 shares of the electronics maker’s stock valued at $1,588,000 after buying an additional 3,396 shares in the last quarter. Vanguard Group Inc. grew its stake in Dolby Laboratories by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 4,725,496 shares of the electronics maker’s stock valued at $231,360,000 after buying an additional 103,702 shares in the last quarter. Skylands Capital LLC purchased a new position in Dolby Laboratories in the 2nd quarter valued at approximately $759,000. Finally, BlackRock Inc. grew its stake in Dolby Laboratories by 19.8% in the 2nd quarter. BlackRock Inc. now owns 2,913,371 shares of the electronics maker’s stock valued at $142,639,000 after buying an additional 481,649 shares in the last quarter. Institutional investors and hedge funds own 51.83% of the company’s stock.
Dolby Laboratories (NYSE DLB) traded up 0.45% on Tuesday, hitting $57.94. 187,762 shares of the stock were exchanged. The firm has a market cap of $5.94 billion, a P/E ratio of 29.64 and a beta of 0.84. The company has a 50-day moving average of $58.13 and a 200 day moving average of $52.78. Dolby Laboratories has a 12 month low of $44.99 and a 12 month high of $61.45.
Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.18. The firm had revenue of $242.05 million during the quarter, compared to analysts’ expectations of $244.80 million. Dolby Laboratories had a net margin of 18.66% and a return on equity of 10.73%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 earnings per share. Equities research analysts expect that Dolby Laboratories will post $2.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.11%. Dolby Laboratories’s dividend payout ratio is 28.87%.
In other news, Director Peter C. Gotcher sold 9,310 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $60.00, for a total value of $558,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Andrew Sherman sold 7,000 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $60.00, for a total transaction of $420,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,365,310 shares of company stock valued at $69,257,700. Corporate insiders own 43.80% of the company’s stock.
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A number of research analysts recently weighed in on DLB shares. Zacks Investment Research lowered shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. B. Riley set a $66.00 price objective on shares of Dolby Laboratories and gave the company a “buy” rating in a research note on Thursday, October 19th. BidaskClub upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. Dougherty & Co reiterated a “buy” rating and issued a $63.00 price objective on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $52.00 price objective (up from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Dolby Laboratories presently has an average rating of “Hold” and a consensus target price of $60.17.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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