Janus Henderson Group PLC Has $258.42 Million Stake in Dolby Laboratories, Inc. (DLB)
Janus Henderson Group PLC cut its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,693,200 shares of the electronics maker’s stock after selling 108,392 shares during the period. Janus Henderson Group PLC owned 3.56% of Dolby Laboratories worth $258,416,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in DLB. Disciplined Growth Investors Inc. MN increased its position in shares of Dolby Laboratories by 86.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,344,217 shares of the electronics maker’s stock valued at $82,925,000 after buying an additional 622,618 shares during the period. FMR LLC increased its position in shares of Dolby Laboratories by 19.7% during the second quarter. FMR LLC now owns 2,480,454 shares of the electronics maker’s stock valued at $153,019,000 after buying an additional 408,054 shares during the period. Schroder Investment Management Group increased its position in shares of Dolby Laboratories by 50.1% during the second quarter. Schroder Investment Management Group now owns 1,003,435 shares of the electronics maker’s stock valued at $61,982,000 after buying an additional 335,024 shares during the period. Bank of Montreal Can increased its position in shares of Dolby Laboratories by 1,613.7% during the second quarter. Bank of Montreal Can now owns 283,406 shares of the electronics maker’s stock valued at $17,483,000 after buying an additional 266,868 shares during the period. Finally, Nantahala Capital Management LLC increased its position in shares of Dolby Laboratories by 27.0% during the second quarter. Nantahala Capital Management LLC now owns 625,270 shares of the electronics maker’s stock valued at $38,573,000 after buying an additional 133,000 shares during the period. Hedge funds and other institutional investors own 57.38% of the company’s stock.
Several brokerages have recently weighed in on DLB. Zacks Investment Research reiterated a “sell” rating on shares of Dolby Laboratories in a research report on Tuesday, November 13th. B. Riley decreased their price target on Dolby Laboratories from $69.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. R. F. Lafferty decreased their price target on Dolby Laboratories from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, October 22nd. Tigress Financial reiterated a “buy” rating on shares of Dolby Laboratories in a research report on Friday, September 7th. Finally, Barrington Research reiterated a “buy” rating and set a $78.00 price target on shares of Dolby Laboratories in a research report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $72.80.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Wednesday, October 24th. The electronics maker reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.17. Dolby Laboratories had a return on equity of 12.72% and a net margin of 10.43%. The company had revenue of $265.33 million during the quarter, compared to analyst estimates of $272.42 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. As a group, research analysts forecast that Dolby Laboratories, Inc. will post 2.45 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th were issued a dividend of $0.19 per share. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.13%. Dolby Laboratories’s payout ratio is presently 31.67%.
In other news, major shareholder Dagmar Dolby sold 22,642 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $70.07, for a total transaction of $1,586,524.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lewis Chew sold 35,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $69.44, for a total value of $2,430,400.00. The disclosure for this sale can be found here. Insiders have sold 60,976 shares of company stock valued at $4,250,305 in the last three months. 43.80% of the stock is owned by insiders.
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Dolby Laboratories 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, including Dolby Digital Plus for digital television, mobile, and Internet-based services; Dolby Digital, a digital audio coding technology that provides multichannel sound in the home; and AAC & HE-AAC, an audio coding technologies used to broadcast, download, and streaming content.
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