BNP Paribas Arbitrage SA Has $199,000 Position in Dolby Laboratories Inc. (DLB)
BNP Paribas Arbitrage SA increased its position in shares of Dolby Laboratories Inc. (NYSE:DLB) by 26.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,667 shares of the company’s stock after buying an additional 766 shares during the period. BNP Paribas Arbitrage SA’s holdings in Dolby Laboratories were worth $199,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Macquarie Group Ltd. acquired a new stake in shares of Dolby Laboratories during the second quarter worth approximately $2,144,000. Royal Bank of Canada raised its stake in shares of Dolby Laboratories by 23.8% in the second quarter. Royal Bank of Canada now owns 30,314 shares of the company’s stock worth $1,450,000 after buying an additional 5,818 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Dolby Laboratories by 0.5% in the second quarter. Public Employees Retirement System of Ohio now owns 93,859 shares of the company’s stock worth $4,491,000 after buying an additional 433 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Dolby Laboratories by 4.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 211,823 shares of the company’s stock worth $10,136,000 after buying an additional 8,991 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of Dolby Laboratories by 5.9% in the second quarter. Amalgamated Bank now owns 6,131 shares of the company’s stock worth $305,000 after buying an additional 339 shares during the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.
Dolby Laboratories Inc. (NYSE:DLB) opened at 54.30 on Thursday. Dolby Laboratories Inc. has a one year low of $30.38 and a one year high of $54.68. The company has a market capitalization of $5.57 billion, a P/E ratio of 26.49 and a beta of 0.57. The stock’s 50 day moving average price is $51.21 and its 200 day moving average price is $47.66.
Dolby Laboratories (NYSE:DLB) last released its earnings results on Wednesday, July 27th. The company reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.25. The firm had revenue of $277.60 million for the quarter, compared to the consensus estimate of $268.04 million. Dolby Laboratories had a return on equity of 10.19% and a net margin of 20.19%. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. Equities analysts anticipate that Dolby Laboratories Inc. will post $1.79 EPS for the current fiscal year.
A number of analysts recently commented on DLB shares. Dougherty & Co raised their price target on Dolby Laboratories from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. B. Riley set a $50.00 price objective on Dolby Laboratories and gave the stock a “hold” rating in a report on Thursday, July 28th. Zacks Investment Research downgraded Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. began coverage on Dolby Laboratories in a report on Tuesday. They issued a “neutral” rating and a $51.00 price objective for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Dolby Laboratories has an average rating of “Hold” and an average price target of $50.80.
In other news, insider Kevin J. Yeaman sold 3,287 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $49.52, for a total transaction of $162,772.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Dagmar Dolby sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $50.24, for a total value of $2,512,000.00. The disclosure for this sale can be found here. Insiders own 45.16% of the company’s stock.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio, imaging and communication technologies that transform entertainment and communications at the cinema, home, work and on mobile devices. The Company offers digital signal processing and compression technologies. Its technologies enable the development of the audio technologies for the cinema, home entertainment, mobile and gaming experiences.
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