Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. cut its stake in shares of Dolby Laboratories, Inc. (NYSE:DLBGet Rating) by 13.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 23,578 shares of the electronics maker’s stock after selling 3,650 shares during the period. Eagle Asset Management Inc.’s holdings in Dolby Laboratories were worth $1,844,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in DLB. American Century Companies Inc. grew its holdings in shares of Dolby Laboratories by 116.8% during the fourth quarter. American Century Companies Inc. now owns 10,022 shares of the electronics maker’s stock worth $954,000 after buying an additional 5,400 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Dolby Laboratories by 37.5% during the fourth quarter. ProShare Advisors LLC now owns 4,707 shares of the electronics maker’s stock worth $448,000 after buying an additional 1,284 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Dolby Laboratories by 3.2% during the fourth quarter. Bank of America Corp DE now owns 705,728 shares of the electronics maker’s stock worth $67,200,000 after buying an additional 21,629 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Dolby Laboratories by 4,028.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 15,895 shares of the electronics maker’s stock worth $1,518,000 after buying an additional 15,510 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Dolby Laboratories by 12.6% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,574 shares of the electronics maker’s stock worth $341,000 after buying an additional 400 shares in the last quarter. 59.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities assumed coverage on shares of Dolby Laboratories in a report on Monday, May 23rd. They set a “buy” rating and a $90.00 target price for the company. Barrington Research dropped their price objective on shares of Dolby Laboratories from $115.00 to $90.00 in a report on Thursday, May 12th. StockNews.com raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Finally, TheStreet lowered shares of Dolby Laboratories from a “b-” rating to a “c+” rating in a report on Friday, July 1st. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $90.00.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 16,688 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $80.00, for a total value of $1,335,040.00. Following the transaction, the chief executive officer now owns 21,741 shares of the company’s stock, valued at $1,739,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Emily Rollins sold 1,000 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the sale, the director now owns 4,245 shares of the company’s stock, valued at $339,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin J. Yeaman sold 16,688 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $80.00, for a total transaction of $1,335,040.00. Following the sale, the chief executive officer now directly owns 21,741 shares in the company, valued at approximately $1,739,280. The disclosure for this sale can be found here. 37.06% of the stock is currently owned by corporate insiders.

Dolby Laboratories Trading Down 0.8 %

Shares of DLB opened at $72.86 on Friday. Dolby Laboratories, Inc. has a 12-month low of $69.18 and a 12-month high of $97.85. The firm has a 50-day moving average price of $75.50 and a 200 day moving average price of $75.38. The firm has a market capitalization of $7.35 billion, a P/E ratio of 37.56, a P/E/G ratio of 1.96 and a beta of 0.98.

Dolby Laboratories (NYSE:DLBGet Rating) last posted its earnings results on Tuesday, August 9th. The electronics maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. Dolby Laboratories had a net margin of 15.91% and a return on equity of 9.38%. The company had revenue of $289.60 million for the quarter, compared to analysts’ expectations of $294.03 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. Dolby Laboratories’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts predict that Dolby Laboratories, Inc. will post 2.36 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 23rd were given a $0.25 dividend. The ex-dividend date was Monday, August 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. Dolby Laboratories’s payout ratio is currently 51.55%.

Dolby Laboratories Company Profile

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Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV, transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. 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, an digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and a range of media devices.

Further Reading

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

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