Dolby Laboratories, Inc. (NYSE:DLB) Shares Acquired by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC boosted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,799 shares of the electronics maker’s stock after purchasing an additional 161 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Dolby Laboratories were worth $758,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Ninety One UK Ltd lifted its holdings in Dolby Laboratories by 29.0% during the 4th quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock worth $221,685,000 after buying an additional 578,239 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Dolby Laboratories by 11.9% in the 3rd quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock valued at $388,556,000 after buying an additional 523,250 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Dolby Laboratories by 4.8% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock valued at $415,808,000 after buying an additional 239,578 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Dolby Laboratories in the third quarter valued at approximately $18,702,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Dolby Laboratories by 4,883.3% during the third quarter. Principal Financial Group Inc. now owns 219,665 shares of the electronics maker’s stock valued at $17,411,000 after purchasing an additional 215,257 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP John D. Couling sold 33,560 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $80.81, for a total value of $2,711,983.60. Following the completion of the sale, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at $8,769,420.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 39.54% of the company’s stock.

Analysts Set New Price Targets

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

Dolby Laboratories Price Performance

NYSE DLB opened at $79.91 on Friday. Dolby Laboratories, Inc. has a 12 month low of $75.87 and a 12 month high of $91.01. The company has a market capitalization of $7.64 billion, a P/E ratio of 41.40 and a beta of 0.97. The company’s 50 day simple moving average is $81.58 and its 200 day simple moving average is $83.33.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. The firm had revenue of $315.57 million for the quarter, compared to the consensus estimate of $310.98 million. On average, analysts anticipate that Dolby Laboratories, Inc. will post 2.6 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.50%. The ex-dividend date was Monday, February 12th. Dolby Laboratories’s dividend payout ratio (DPR) is currently 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.