Janney Montgomery Scott LLC Boosts Position in Dolby Laboratories (NYSE:DLB)
Janney Montgomery Scott LLC boosted its position in shares of Dolby Laboratories (NYSE:DLB) by 19.2% during the second quarter, Holdings Channel reports. The firm owned 25,812 shares of the electronics maker’s stock after buying an additional 4,149 shares during the period. Janney Montgomery Scott LLC’s holdings in Dolby Laboratories were worth $1,264,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the stock. Swiss National Bank increased its stake in Dolby Laboratories by 3.4% in the first quarter. Swiss National Bank now owns 94,000 shares of the electronics maker’s stock worth $4,927,000 after buying an additional 3,100 shares during the period. BB&T Securities LLC increased its stake in Dolby Laboratories by 71.9% in the first quarter. BB&T Securities LLC now owns 13,308 shares of the electronics maker’s stock worth $697,000 after buying an additional 5,567 shares during the period. Mackenzie Financial Corp increased its stake in Dolby Laboratories by 21.2% in the first quarter. Mackenzie Financial Corp now owns 167,750 shares of the electronics maker’s stock worth $8,792,000 after buying an additional 29,300 shares during the period. Teachers Advisors LLC increased its stake in Dolby Laboratories by 104.6% in the fourth quarter. Teachers Advisors LLC now owns 131,236 shares of the electronics maker’s stock worth $5,931,000 after buying an additional 67,098 shares during the period. Finally, First Trust Advisors LP increased its stake in Dolby Laboratories by 66.9% in the first quarter. First Trust Advisors LP now owns 232,414 shares of the electronics maker’s stock worth $12,181,000 after buying an additional 93,191 shares during the period. 50.46% of the stock is owned by hedge funds and other institutional investors.
Dolby Laboratories (NYSE DLB) opened at 49.99 on Friday. The firm has a market cap of $5.13 billion, a PE ratio of 25.57 and a beta of 0.79. The firm’s 50 day moving average price is $51.27 and its 200-day moving average price is $50.73. Dolby Laboratories has a 52 week low of $44.99 and a 52 week high of $55.02.
Dolby Laboratories (NYSE:DLB) last posted its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.10. The firm had revenue of $305.67 million for the quarter, compared to the consensus estimate of $296.88 million. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.25%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. On average, analysts forecast that Dolby Laboratories will post $1.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, August 7th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, August 3rd. Dolby Laboratories’s payout ratio is 28.57%.
DLB has been the subject of a number of research reports. BidaskClub downgraded Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research downgraded Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Finally, B. Riley reissued a “buy” rating and set a $61.50 price target on shares of Dolby Laboratories in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $54.38.
In other Dolby Laboratories news, CFO Lewis Chew sold 14,300 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $50.34, for a total transaction of $719,862.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Dagmar Dolby sold 100,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $52.22, for a total transaction of $5,222,000.00. The disclosure for this sale can be found here. Insiders have sold 474,300 shares of company stock worth $24,451,762 over the last three months. Company insiders own 43.80% of the company’s stock.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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