Dolby Laboratories, Inc. (DLB) Shares Sold by Strs Ohio

Strs Ohio trimmed its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 10.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,299 shares of the electronics maker’s stock after selling 831 shares during the quarter. Strs Ohio’s holdings in Dolby Laboratories were worth $451,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Dolby Laboratories by 4.0% during the third quarter. Vanguard Group Inc. now owns 5,508,279 shares of the electronics maker’s stock worth $385,415,000 after purchasing an additional 209,633 shares during the period. Vanguard Group Inc raised its holdings in shares of Dolby Laboratories by 4.0% during the third quarter. Vanguard Group Inc now owns 5,508,279 shares of the electronics maker’s stock worth $385,415,000 after purchasing an additional 209,633 shares during the period. BlackRock Inc. raised its holdings in shares of Dolby Laboratories by 12.4% during the third quarter. BlackRock Inc. now owns 2,924,015 shares of the electronics maker’s stock worth $204,594,000 after purchasing an additional 323,489 shares during the period. FMR LLC raised its holdings in shares of Dolby Laboratories by 5.1% during the third quarter. FMR LLC now owns 2,607,991 shares of the electronics maker’s stock worth $182,481,000 after purchasing an additional 127,537 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Dolby Laboratories by 10.0% during the third quarter. Renaissance Technologies LLC now owns 2,458,000 shares of the electronics maker’s stock worth $171,986,000 after purchasing an additional 223,300 shares during the period. 56.19% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on DLB shares. B. Riley dropped their target price on shares of Dolby Laboratories from $69.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, October 25th. R. F. Lafferty dropped their price objective on shares of Dolby Laboratories from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Zacks Investment Research raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Wednesday, January 16th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 31st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $75.75.

DLB stock opened at $64.03 on Wednesday. Dolby Laboratories, Inc. has a fifty-two week low of $58.17 and a fifty-two week high of $72.04. The stock has a market capitalization of $6.46 billion, a P/E ratio of 26.68, a PEG ratio of 2.18 and a beta of 0.86.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Wednesday, January 30th. The electronics maker reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.40. Dolby Laboratories had a net margin of 25.47% and a return on equity of 11.30%. The business had revenue of $302.40 million for the quarter, compared to analysts’ expectations of $295.04 million. During the same quarter last year, the company earned ($0.80) EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts expect that Dolby Laboratories, Inc. will post 2.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 21st. Investors of record on Tuesday, February 12th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, February 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.19%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 31.67%.

In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 52,254 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $65.39, for a total transaction of $3,416,889.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kevin J. Yeaman sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $63.70, for a total transaction of $6,370,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 269,533 shares of company stock worth $17,254,970. Corporate insiders own 40.23% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Dolby Laboratories, Inc. (DLB) Shares Sold by Strs Ohio” was published by Community Financial News and is the property of of Community Financial News. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://www.com-unik.info/2019/02/13/dolby-laboratories-inc-dlb-shares-sold-by-strs-ohio.html.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

See Also: Options Trading – What is a Straddle?

Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

Receive News & Ratings for Dolby Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit