LVW Advisors LLC Reduces Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

LVW Advisors LLC cut its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 3.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,708 shares of the electronics maker’s stock after selling 218 shares during the quarter. LVW Advisors LLC’s holdings in Dolby Laboratories were worth $562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Norris Perne & French LLP MI lifted its holdings in Dolby Laboratories by 2.8% in the 1st quarter. Norris Perne & French LLP MI now owns 208,565 shares of the electronics maker’s stock worth $17,472,000 after buying an additional 5,752 shares during the period. Thrive Wealth Management LLC purchased a new stake in Dolby Laboratories in the 1st quarter worth approximately $206,000. Cardinal Capital Management lifted its holdings in Dolby Laboratories by 15.9% in the 1st quarter. Cardinal Capital Management now owns 34,403 shares of the electronics maker’s stock worth $2,882,000 after buying an additional 4,710 shares during the period. Janiczek Wealth Management LLC lifted its holdings in Dolby Laboratories by 14.0% in the 1st quarter. Janiczek Wealth Management LLC now owns 4,618 shares of the electronics maker’s stock worth $387,000 after buying an additional 567 shares during the period. Finally, Sunbelt Securities Inc. lifted its holdings in Dolby Laboratories by 1,631.0% in the 1st quarter. Sunbelt Securities Inc. now owns 502 shares of the electronics maker’s stock worth $42,000 after buying an additional 473 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, May 11th. Rosenblatt Securities restated a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a research note on Friday, June 7th. Finally, Barrington Research upgraded 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.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories 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 owns 58,325 shares of the company’s stock, valued at approximately $4,643,836.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 39.54% of the stock is owned by corporate insiders.

Dolby Laboratories Stock Up 1.3 %

DLB opened at $80.24 on Tuesday. The stock has a market cap of $7.69 billion, a PE ratio of 40.94 and a beta of 0.99. The business has a 50 day moving average of $80.24 and a 200-day moving average of $81.91. 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 data on Thursday, May 2nd. The electronics maker reported $1.01 earnings per share 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 company had revenue of $364.52 million during the quarter, compared to analyst estimates of $361.98 million. Equities analysts anticipate that Dolby Laboratories, Inc. will post 2.68 EPS for the current year.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were given a dividend of $0.30 per share. 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%.

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.