Dolby Laboratories, Inc. (NYSE:DLB) Position Trimmed by Signet Financial Management LLC

Signet Financial Management LLC trimmed its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 11.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,556 shares of the electronics maker’s stock after selling 579 shares during the period. Signet Financial Management LLC’s holdings in Dolby Laboratories were worth $393,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP grew its position in Dolby Laboratories by 248.2% during the 2nd quarter. Quarry LP now owns 296 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 211 shares in the last quarter. VisionPoint Advisory Group LLC grew its position in Dolby Laboratories by 86.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 172 shares in the last quarter. Blue Trust Inc. grew its position in Dolby Laboratories by 75.7% during the 4th quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 159 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Dolby Laboratories by 52.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 400 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 138 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Dolby Laboratories by 175.3% during the 3rd quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 284 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on DLB. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Rosenblatt Securities reissued a “buy” rating and set a $98.00 target price on shares of Dolby Laboratories in a research note on Wednesday, January 31st.

Insiders Place Their Bets

In other news, SVP John D. Couling sold 33,560 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the transaction, the senior vice president now owns 108,519 shares in the company, valued at approximately $8,769,420.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 39.54% of the company’s stock.

Dolby Laboratories Stock Up 0.0 %

Shares of NYSE:DLB opened at $78.63 on Wednesday. The firm has a fifty day moving average of $81.69 and a two-hundred day moving average of $83.41. The firm has a market capitalization of $7.52 billion, a P/E ratio of 40.74 and a beta of 0.97. Dolby Laboratories, Inc. has a 12-month low of $75.87 and a 12-month high of $91.01.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.14. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. The company had revenue of $315.57 million during the quarter, compared to analyst estimates of $310.98 million. Equities research analysts expect that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Monday, February 12th. Dolby Laboratories’s dividend payout ratio is 62.18%.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.