Brinker Capital Inc. lowered its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 31.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,110 shares of the electronics maker’s stock after selling 12,192 shares during the period. Brinker Capital Inc.’s holdings in Dolby Laboratories were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in DLB. Penserra Capital Management LLC acquired a new position in shares of Dolby Laboratories during the fourth quarter valued at about $27,000. Essex Savings Bank acquired a new position in shares of Dolby Laboratories during the fourth quarter valued at about $28,000. Cutler Group LP acquired a new position in shares of Dolby Laboratories during the fourth quarter valued at about $30,000. Enlightenment Research LLC acquired a new position in shares of Dolby Laboratories during the fourth quarter valued at about $31,000. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Dolby Laboratories during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 55.64% of the company’s stock.
In related news, major shareholder Dagmar Dolby sold 21,465 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $65.00, for a total value of $1,395,225.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kevin J. Yeaman sold 100,000 shares of the company’s stock in a transaction dated Friday, February 8th. The stock was 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. Insiders sold a total of 687,481 shares of company stock worth $44,533,669 in the last 90 days. 40.23% of the stock is currently owned by company insiders.
DLB opened at $64.41 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 $6.60 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87.
Dolby Laboratories (NYSE:DLB) last posted its earnings results 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 company had revenue of $302.40 million for the quarter, compared to analyst estimates of $295.04 million. During the same quarter in the prior year, the business posted ($0.80) EPS. The firm’s revenue 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 fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 21st. Investors of record on Tuesday, February 12th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, February 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.18%. Dolby Laboratories’s dividend payout ratio is presently 31.67%.
Several equities analysts have recently weighed in on the stock. B. Riley set a $67.00 price objective on shares of Dolby Laboratories and gave the company a “hold” rating in a report on Tuesday, December 4th. Zacks Investment Research lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, January 17th. Finally, Barrington Research reiterated a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $75.75.
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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