Sunbelt Securities Inc. Has $42,000 Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Sunbelt Securities Inc. boosted its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 1,631.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 502 shares of the electronics maker’s stock after buying an additional 473 shares during the period. Sunbelt Securities Inc.’s holdings in Dolby Laboratories were worth $42,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. VisionPoint Advisory Group LLC increased its position in Dolby Laboratories by 86.9% during the third quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 172 shares during the period. Blue Trust Inc. grew its position in Dolby Laboratories by 75.7% during 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 in the last quarter. Mather Group LLC. bought a new position in Dolby Laboratories during the first quarter valued at about $33,000. Quarry LP acquired a new position in Dolby Laboratories in the 4th quarter valued at approximately $37,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Dolby Laboratories by 65.0% in the 4th quarter. Quadrant Capital Group LLC now owns 505 shares of the electronics maker’s stock worth $44,000 after acquiring an additional 199 shares during the period. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Mark Andrew Sherman sold 2,283 shares of Dolby Laboratories stock in a transaction on 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 directly owns 58,325 shares of the company’s stock, valued at approximately $4,643,836.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 39.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

DLB has been the topic of several analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a report on Friday, June 7th. Barrington Research upgraded Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a research note on Monday, June 3rd. Finally, StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th.

Dolby Laboratories Stock Down 0.0 %

NYSE:DLB opened at $79.23 on Monday. The firm has a market cap of $7.59 billion, a PE ratio of 40.42 and a beta of 0.99. Dolby Laboratories, Inc. has a 12 month low of $75.87 and a 12 month high of $91.01. The company’s 50-day moving average price is $80.21 and its two-hundred day moving average price is $81.97.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Thursday, May 2nd. The electronics maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, research analysts expect that Dolby Laboratories, Inc. will post 2.68 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were issued 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 of this dividend was Monday, May 13th. Dolby Laboratories’s dividend payout ratio is currently 61.22%.

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.