Kapitalo Investimentos Ltda Buys Shares of 5,369 Dolby Laboratories, Inc. (NYSE:DLB)

Kapitalo Investimentos Ltda bought a new stake in Dolby Laboratories, Inc. (NYSE:DLB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,369 shares of the electronics maker’s stock, valued at approximately $463,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DLB. Ninety One UK Ltd raised its stake in shares of Dolby Laboratories by 29.0% during the 4th quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock worth $221,685,000 after buying an additional 578,239 shares during the last quarter. Morgan Stanley raised its stake in shares of Dolby Laboratories by 11.9% during the 3rd quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock worth $388,556,000 after buying an additional 523,250 shares during the last quarter. Norges Bank acquired a new position in shares of Dolby Laboratories during the 4th quarter worth $42,067,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Dolby Laboratories by 4.8% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock worth $415,808,000 after buying an additional 239,578 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Dolby Laboratories by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,389,084 shares of the electronics maker’s stock worth $506,399,000 after buying an additional 205,319 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Trading Down 0.3 %

Shares of DLB stock opened at $78.76 on Wednesday. The firm has a 50-day moving average price of $80.33 and a 200 day moving average price of $82.54. Dolby Laboratories, Inc. has a twelve month low of $75.87 and a twelve month high of $91.01. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 40.18 and a beta of 0.99.

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

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Monday, May 13th. Dolby Laboratories’s dividend payout ratio (DPR) is 61.22%.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of Dolby Laboratories stock in a transaction dated Tuesday, May 28th. The stock was 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 owns 58,325 shares in the company, valued at approximately $4,643,836.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 39.54% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.