LRI Investments LLC Takes Position in Dolby Laboratories, Inc. (NYSE:DLB)

LRI Investments LLC bought a new position in Dolby Laboratories, Inc. (NYSE:DLB) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,163 shares of the electronics maker’s stock, valued at approximately $178,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DLB. Raymond James & Associates increased its holdings in Dolby Laboratories by 1.1% in the 4th quarter. Raymond James & Associates now owns 502,852 shares of the electronics maker’s stock worth $43,336,000 after purchasing an additional 5,380 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Dolby Laboratories by 20.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,675 shares of the electronics maker’s stock worth $1,351,000 after purchasing an additional 2,681 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Dolby Laboratories by 115.5% in the 4th quarter. Pacer Advisors Inc. now owns 16,418 shares of the electronics maker’s stock worth $1,415,000 after purchasing an additional 8,798 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Dolby Laboratories by 75.7% in the fourth quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock valued at $29,000 after buying an additional 159 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Dolby Laboratories by 36.8% in the fourth quarter. Fifth Third Bancorp now owns 610 shares of the electronics maker’s stock valued at $53,000 after buying an additional 164 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DLB shares. Barrington Research raised Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research note on Monday, June 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a research note on Friday, June 7th. Finally, StockNews.com raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, May 11th.

Dolby Laboratories Trading Up 0.7 %

NYSE DLB traded up $0.57 during trading hours on Friday, hitting $78.37. 413,730 shares of the company’s stock were exchanged, compared to its average volume of 379,173. The stock has a 50-day simple moving average of $79.58 and a 200 day simple moving average of $81.12. Dolby Laboratories, Inc. has a 1-year low of $75.87 and a 1-year high of $90.06. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 39.98 and a beta of 0.99.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Thursday, May 2nd. The electronics maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Dolby Laboratories had a return on equity of 10.15% and a net margin of 15.00%. The business had revenue of $364.52 million during the quarter, compared to analysts’ expectations of $361.98 million. On average, sell-side analysts anticipate that Dolby Laboratories, Inc. will post 2.68 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, May 13th. This represents a $1.20 annualized dividend and a yield of 1.53%. Dolby Laboratories’s dividend payout ratio is currently 61.22%.

Insider Buying and Selling

In related news, EVP Mark Andrew Sherman sold 2,283 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $79.62, for a total transaction of $181,772.46. Following the completion of the sale, the executive vice president now owns 58,325 shares of the company’s stock, valued at $4,643,836.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 39.54% of the stock is currently owned by insiders.

About Dolby Laboratories

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.