Norris Perne & French LLP MI Grows Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Norris Perne & French LLP MI lifted its position in Dolby Laboratories, Inc. (NYSE:DLB) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,565 shares of the electronics maker’s stock after purchasing an additional 5,752 shares during the period. Norris Perne & French LLP MI’s holdings in Dolby Laboratories were worth $17,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in DLB. Ninety One UK Ltd lifted its stake in shares of Dolby Laboratories by 29.0% in the 4th quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock valued at $221,685,000 after purchasing an additional 578,239 shares during the period. Morgan Stanley raised its position in Dolby Laboratories by 11.9% during the third quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock worth $388,556,000 after acquiring an additional 523,250 shares during the period. Norges Bank acquired a new position in Dolby Laboratories during the fourth quarter worth $42,067,000. Vanguard Group Inc. raised its position in Dolby Laboratories by 3.3% during the third quarter. Vanguard Group Inc. now owns 6,389,084 shares of the electronics maker’s stock worth $506,399,000 after acquiring an additional 205,319 shares during the period. Finally, Northern Trust Corp raised its position in Dolby Laboratories by 40.2% during the third quarter. Northern Trust Corp now owns 534,454 shares of the electronics maker’s stock worth $42,361,000 after acquiring an additional 153,381 shares during the period. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Stock Performance

Shares of NYSE DLB traded down $0.03 during mid-day trading on Friday, reaching $79.23. The company’s stock had a trading volume of 532,047 shares, compared to its average volume of 364,325. The stock has a 50-day moving average of $80.21 and a two-hundred day moving average of $82.06. The stock has a market capitalization of $7.59 billion, a P/E ratio of 40.41 and a beta of 0.99. Dolby Laboratories, Inc. has a 1-year low of $75.87 and a 1-year high of $91.01.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, May 2nd. The electronics maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $364.52 million during the quarter, compared to analysts’ expectations of $361.98 million. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.15%. Analysts predict that Dolby Laboratories, Inc. will post 2.68 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Monday, May 13th. Dolby Laboratories’s dividend payout ratio (DPR) is 61.22%.

Insider Activity

In other news, EVP Mark Andrew Sherman sold 2,283 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total value of $181,772.46. Following the completion of the sale, the executive vice president now directly owns 58,325 shares in the company, valued at $4,643,836.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 39.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on DLB. Rosenblatt Securities restated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a research report on Friday, June 7th. Barrington Research upgraded shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a research report on Monday, June 3rd. Finally, StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th.

Dolby Laboratories 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.