California Public Employees Retirement System decreased its position in Dolby Laboratories (NYSE:DLB) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,000 shares of the electronics maker’s stock after selling 1,000 shares during the quarter. California Public Employees Retirement System owned 0.17% of Dolby Laboratories worth $8,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Clearbridge Investments LLC lifted its position in Dolby Laboratories by 8.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,181,361 shares of the electronics maker’s stock worth $323,965,000 after buying an additional 497,767 shares during the last quarter. Vanguard Group Inc. increased its stake in Dolby Laboratories by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 4,725,496 shares of the electronics maker’s stock worth $231,360,000 after purchasing an additional 103,702 shares during the period. BlackRock Inc. increased its stake in Dolby Laboratories by 19.8% in the 2nd quarter. BlackRock Inc. now owns 2,913,371 shares of the electronics maker’s stock worth $142,639,000 after purchasing an additional 481,649 shares during the period. American Century Companies Inc. increased its stake in Dolby Laboratories by 6.9% in the 2nd quarter. American Century Companies Inc. now owns 1,828,417 shares of the electronics maker’s stock worth $89,519,000 after purchasing an additional 117,955 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Dolby Laboratories by 157.2% in the 2nd quarter. Alliancebernstein L.P. now owns 907,989 shares of the electronics maker’s stock worth $44,455,000 after purchasing an additional 555,020 shares during the period. Institutional investors own 51.87% of the company’s stock.

In related news, major shareholder Dagmar Dolby sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $48.28, for a total value of $4,828,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kevin J. Yeaman sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $51.79, for a total value of $517,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,419,000 shares of company stock worth $71,701,100. Insiders own 43.80% of the company’s stock.

Shares of Dolby Laboratories (NYSE:DLB) opened at 57.93 on Tuesday. The firm has a 50-day moving average price of $54.43 and a 200-day moving average price of $51.96. The stock has a market cap of $5.94 billion, a PE ratio of 29.63 and a beta of 0.84. Dolby Laboratories has a 12 month low of $44.99 and a 12 month high of $59.79.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.10. Dolby Laboratories had a return on equity of 10.25% and a net margin of 19.02%. The firm had revenue of $305.67 million during the quarter, compared to analyst estimates of $296.88 million. During the same quarter in the previous year, the business earned $0.62 EPS. Dolby Laboratories’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts forecast that Dolby Laboratories will post $1.99 EPS for the current year.

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Piper Jaffray Companies restated a “hold” rating and set a $52.00 price target (up from $49.00) on shares of Dolby Laboratories in a research report on Wednesday, September 13th. Dougherty & Co reissued a “buy” rating and issued a $63.00 target price on shares of Dolby Laboratories in a report on Wednesday, September 13th. BidaskClub raised Dolby Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, July 8th. Finally, B. Riley raised Dolby Laboratories to a “buy” rating and set a $61.50 target price on the stock in a report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $58.83.

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Dolby Laboratories 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.

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

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