Schroder Investment Management Group Sells 524,014 Shares of Dolby Laboratories $DLB

Schroder Investment Management Group trimmed its stake in shares of Dolby Laboratories (NYSE:DLB) by 64.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 282,846 shares of the electronics maker’s stock after selling 524,014 shares during the period. Schroder Investment Management Group owned approximately 0.30% of Dolby Laboratories worth $20,487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its holdings in Dolby Laboratories by 8.6% in the third quarter. Parallel Advisors LLC now owns 6,145 shares of the electronics maker’s stock worth $445,000 after purchasing an additional 486 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its stake in 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 valued at $48,780,000 after buying an additional 6,298 shares during the last quarter. First Trust Advisors LP raised its stake in 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 valued at $109,905,000 after buying an additional 281,214 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of Dolby Laboratories by 0.4% during the 3rd quarter. Gabelli Funds LLC now owns 49,143 shares of the electronics maker’s stock valued at $3,556,000 after buying an additional 202 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Dolby Laboratories by 11.0% during the 3rd quarter. Barclays PLC now owns 67,511 shares of the electronics maker’s stock valued at $4,886,000 after buying an additional 6,683 shares during the period. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

NYSE:DLB opened at $62.96 on Friday. Dolby Laboratories has a one year low of $60.14 and a one year high of $83.25. The business has a fifty day moving average price of $64.17 and a 200-day moving average price of $67.03. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 25.39 and a beta of 0.84.

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

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, February 10th. Dolby Laboratories’s payout ratio is presently 58.06%.

Insider Buying and Selling

In related news, SVP Shriram Revankar sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $66.14, for a total value of $198,420.00. Following the completion of the sale, the senior vice president directly owned 83,218 shares of the company’s stock, valued at approximately $5,504,038.52. This represents a 3.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Andrew Sherman sold 9,109 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $66.73, for a total transaction of $607,843.57. Following the completion of the sale, the executive vice president directly owned 73,054 shares of the company’s stock, valued at $4,874,893.42. This represents a 11.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 50,784 shares of company stock valued at $3,391,144. Insiders own 37.93% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dolby Laboratories in a report on Monday, December 29th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 target price on shares of Dolby Laboratories in a report on Friday, January 30th. Wall Street Zen cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Barrington Research reduced 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 report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $90.75.

Dolby Laboratories Profile

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.