Fiera Capital Corp Cuts Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Fiera Capital Corp lessened its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 3.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 551,095 shares of the electronics maker’s stock after selling 17,232 shares during the period. Fiera Capital Corp’s holdings in Dolby Laboratories were worth $42,175,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DLB. Blue Trust Inc. raised its holdings in shares of Dolby Laboratories by 398.8% in the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 331 shares during the period. Point72 Hong Kong Ltd bought a new position in Dolby Laboratories during the second quarter worth about $37,000. GAMMA Investing LLC increased its stake in shares of Dolby Laboratories by 64.6% in the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 192 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Dolby Laboratories by 192.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock valued at $46,000 after purchasing an additional 379 shares during the period. Finally, Headlands Technologies LLC lifted its stake in shares of Dolby Laboratories by 693.3% during the 1st quarter. Headlands Technologies LLC now owns 595 shares of the electronics maker’s stock valued at $50,000 after buying an additional 520 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the sale, the chief executive officer now directly owns 83,721 shares of the company’s stock, valued at $6,205,400.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 39.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on DLB. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday. Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, September 20th.

Dolby Laboratories Trading Down 0.9 %

Shares of NYSE:DLB opened at $75.14 on Friday. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $90.06. The stock has a market cap of $7.16 billion, a P/E ratio of 34.31 and a beta of 0.98. The company has a 50 day moving average of $73.26 and a 200 day moving average of $76.37.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.14. The firm had revenue of $288.82 million for the quarter, compared to analysts’ expectations of $286.26 million. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. On average, equities analysts forecast that Dolby Laboratories, Inc. will post 2.71 earnings per share for the current fiscal year.

Dolby Laboratories announced that its board has initiated a share repurchase program on Wednesday, August 7th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the electronics maker to purchase up to 5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.