O Shares Investment Advisers LLC Lowers Position in Dolby Laboratories, Inc. (NYSE:DLB)

O Shares Investment Advisers LLC cut its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 10.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,609 shares of the electronics maker’s stock after selling 672 shares during the quarter. O Shares Investment Advisers LLC’s holdings in Dolby Laboratories were worth $353,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DLB. ETF Managers Group LLC lifted its position in shares of Dolby Laboratories by 8.6% during the first quarter. ETF Managers Group LLC now owns 2,264 shares of the electronics maker’s stock valued at $143,000 after buying an additional 179 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of Dolby Laboratories by 50.0% during the first quarter. Penserra Capital Management LLC now owns 669 shares of the electronics maker’s stock valued at $42,000 after buying an additional 223 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Dolby Laboratories by 2.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,707 shares of the electronics maker’s stock valued at $548,000 after buying an additional 226 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Dolby Laboratories by 7.0% during the fourth quarter. Prudential Financial Inc. now owns 3,808 shares of the electronics maker’s stock valued at $235,000 after buying an additional 250 shares during the last quarter. Finally, Sandy Spring Bank lifted its position in shares of Dolby Laboratories by 2.3% during the fourth quarter. Sandy Spring Bank now owns 12,036 shares of the electronics maker’s stock valued at $744,000 after buying an additional 265 shares during the last quarter. 55.98% of the stock is owned by institutional investors.

In related news, major shareholder Dagmar Dolby sold 96,567 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $65.22, for a total value of $6,298,099.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Giles Baker sold 8,181 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $65.30, for a total transaction of $534,219.30. Following the completion of the transaction, the senior vice president now owns 12,499 shares in the company, valued at approximately $816,184.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 699,582 shares of company stock worth $45,579,410. Corporate insiders own 40.23% of the company’s stock.

DLB opened at $62.50 on Friday. Dolby Laboratories, Inc. has a 52-week low of $58.17 and a 52-week high of $72.04. The stock has a market cap of $6.37 billion, a PE ratio of 26.04, a P/E/G ratio of 2.03 and a beta of 0.84.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.18. Dolby Laboratories had a net margin of 24.93% and a return on equity of 11.12%. The firm had revenue of $338.26 million for the quarter, compared to the consensus estimate of $337.45 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts forecast that Dolby Laboratories, Inc. will post 2.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.19 per share. The ex-dividend date was Monday, May 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.22%. Dolby Laboratories’s dividend payout ratio (DPR) is currently 31.67%.

Several research firms have commented on DLB. B. Riley set a $67.00 price target on shares of Dolby Laboratories and gave the company a “hold” rating in a research report on Thursday. ValuEngine downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Finally, Zacks Investment Research upgraded shares of Dolby Laboratories from a “hold” rating to a “strong-buy” rating and set a $74.00 price objective on the stock in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Dolby Laboratories currently has an average rating of “Buy” and a consensus target price of $76.50.

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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.

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

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