Dolby Laboratories, Inc. (NYSE:DLB) Position Boosted by NBC Securities Inc.

NBC Securities Inc. grew its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 33.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,460 shares of the electronics maker’s stock after purchasing an additional 611 shares during the period. NBC Securities Inc.’s holdings in Dolby Laboratories were worth $216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. VisionPoint Advisory Group LLC boosted its holdings in shares of Dolby Laboratories by 86.9% in the third quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after buying an additional 172 shares during the period. Blue Trust Inc. boosted its holdings 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 worth $29,000 after buying an additional 159 shares during the period. Quarry LP acquired a new position in shares of Dolby Laboratories in the fourth quarter worth about $37,000. Quadrant Capital Group LLC boosted its holdings in shares of Dolby Laboratories by 65.0% in the fourth quarter. Quadrant Capital Group LLC now owns 505 shares of the electronics maker’s stock worth $44,000 after buying an additional 199 shares during the period. Finally, Fifth Third Bancorp boosted its holdings 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 worth $53,000 after buying an additional 164 shares during the period. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Stock Performance

DLB stock opened at $79.99 on Friday. The stock has a market cap of $7.67 billion, a P/E ratio of 40.81 and a beta of 0.99. The firm has a 50 day simple moving average of $80.13 and a 200 day simple moving average of $82.35. Dolby Laboratories, Inc. has a 52 week low of $75.87 and a 52 week high of $91.01.

Dolby Laboratories (NYSE:DLB) last posted its quarterly 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. 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%. Sell-side analysts predict that Dolby Laboratories, Inc. will post 2.68 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Monday, May 13th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 61.22%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DLB. Rosenblatt Securities reiterated a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a report on Friday, June 7th. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, May 11th. Finally, Barrington Research upgraded shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Monday, June 3rd.

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 that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 39.54% of the company’s stock.

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.