Victory Capital Management Inc. purchased a new stake in Dolby Laboratories, Inc. (NYSE:DLB) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 59,703 shares of the electronics maker’s stock, valued at approximately $3,759,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Boston Partners raised its position in Dolby Laboratories by 1.3% during the first quarter. Boston Partners now owns 40,934 shares of the electronics maker’s stock worth $2,578,000 after acquiring an additional 530 shares in the last quarter. Marathon Asset Management LLP raised its position in Dolby Laboratories by 7.3% during the first quarter. Marathon Asset Management LLP now owns 635,550 shares of the electronics maker’s stock worth $40,018,000 after acquiring an additional 43,156 shares in the last quarter. Comerica Bank raised its position in Dolby Laboratories by 7.1% during the first quarter. Comerica Bank now owns 7,902 shares of the electronics maker’s stock worth $508,000 after acquiring an additional 525 shares in the last quarter. Alps Advisors Inc. bought a new stake in Dolby Laboratories during the first quarter worth $393,000. Finally, Eagle Asset Management Inc. raised its position in Dolby Laboratories by 0.6% during the first quarter. Eagle Asset Management Inc. now owns 104,369 shares of the electronics maker’s stock worth $6,572,000 after acquiring an additional 619 shares in the last quarter. Institutional investors own 53.67% of the company’s stock.

In other news, major shareholder Dagmar Dolby sold 2,406 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $65.05, for a total value of $156,510.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin J. Yeaman sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $64.80, for a total transaction of $3,240,000.00. The disclosure for this sale can be found here. Insiders sold 967,959 shares of company stock worth $63,085,984 over the last three months. Insiders own 40.23% of the company’s stock.

Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Dolby Laboratories from a “hold” rating to a “strong-buy” rating and set a $74.00 price target on the stock in a research report on Friday, May 3rd. ValuEngine lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Finally, Barrington Research reaffirmed a “buy” rating and set a $85.00 price target on shares of Dolby Laboratories in a research report on Thursday, January 31st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Dolby Laboratories presently has an average rating of “Buy” and a consensus price target of $76.50.

Shares of DLB traded up $0.18 during trading hours on Friday, hitting $62.26. The company had a trading volume of 362,178 shares, compared to its average volume of 453,940. The firm has a market capitalization of $6.33 billion, a PE ratio of 25.94, a PEG ratio of 2.01 and a beta of 0.86. Dolby Laboratories, Inc. has a 12 month low of $58.17 and a 12 month high of $72.04.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.18. The company had revenue of $338.26 million for the quarter, compared to analyst estimates of $337.45 million. Dolby Laboratories had a net margin of 24.93% and a return on equity of 11.12%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 earnings per share. As a group, sell-side analysts expect that Dolby Laboratories, Inc. will post 2.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Monday, May 13th. Dolby Laboratories’s payout ratio is presently 31.67%.

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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.

See Also: Lock-Up Period Expiration

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

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