Mackenzie Financial Corp Has $83.19 Million Stock Holdings in Dolby Laboratories $DLB

Mackenzie Financial Corp decreased its position in Dolby Laboratories (NYSE:DLB) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,149,444 shares of the electronics maker’s stock after selling 12,635 shares during the period. Mackenzie Financial Corp’s holdings in Dolby Laboratories were worth $83,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DLB. Swiss National Bank raised its holdings in Dolby Laboratories by 1.7% during the 3rd quarter. Swiss National Bank now owns 119,000 shares of the electronics maker’s stock worth $8,612,000 after purchasing an additional 2,000 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Dolby Laboratories by 7.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 63,604 shares of the electronics maker’s stock valued at $4,603,000 after purchasing an additional 4,148 shares during the period. Parallel Advisors LLC boosted its stake in shares of Dolby Laboratories by 8.6% in the 3rd quarter. Parallel Advisors LLC now owns 6,145 shares of the electronics maker’s stock valued at $445,000 after purchasing an additional 486 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Dolby Laboratories by 0.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 674,036 shares of the electronics maker’s stock worth $48,780,000 after buying an additional 6,298 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Dolby Laboratories by 22.7% during the 3rd quarter. First Trust Advisors LP now owns 1,518,657 shares of the electronics maker’s stock worth $109,905,000 after buying an additional 281,214 shares during the period. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Shriram Revankar sold 3,000 shares of Dolby Laboratories stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $66.14, for a total transaction of $198,420.00. Following the transaction, the senior vice president directly owned 83,218 shares of the company’s stock, valued at $5,504,038.52. This trade represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ryan Nicholson sold 2,667 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $66.38, for a total transaction of $177,035.46. Following the completion of the transaction, the chief accounting officer directly owned 36,956 shares of the company’s stock, valued at $2,453,139.28. This trade represents a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 50,784 shares of company stock valued at $3,391,144. 37.93% of the stock is owned by company insiders.

Dolby Laboratories Trading Down 0.2%

Dolby Laboratories stock opened at $63.84 on Thursday. The firm has a market capitalization of $6.10 billion, a P/E ratio of 25.74 and a beta of 0.84. The business has a 50-day moving average of $64.19 and a 200-day moving average of $67.06. Dolby Laboratories has a 1 year low of $60.14 and a 1 year high of $83.25.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The business had revenue of $346.71 million for the quarter, compared to the consensus estimate of $341.26 million. During the same period last year, the company posted $1.14 EPS. Dolby Laboratories’s revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts anticipate that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th were issued a $0.36 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $1.44 annualized dividend and a yield of 2.3%. Dolby Laboratories’s dividend payout ratio (DPR) is 58.06%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DLB. Barrington Research dropped their price target on shares of Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dolby Laboratories in a research note on Monday, December 29th. Wall Street Zen cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price target on shares of Dolby Laboratories in a research note on Friday, January 30th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.75.

About Dolby Laboratories

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.