Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC lessened its position in Dolby Laboratories, Inc. (NYSE:DLB) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,202 shares of the electronics maker’s stock after selling 746 shares during the period. Bleakley Financial Group LLC’s holdings in Dolby Laboratories were worth $704,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DLB. Acadian Asset Management LLC grew its stake in Dolby Laboratories by 39.8% in the 2nd quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock worth $51,698,000 after acquiring an additional 185,884 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Dolby Laboratories by 27.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock valued at $62,817,000 after acquiring an additional 168,744 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Dolby Laboratories by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock worth $544,711,000 after acquiring an additional 107,713 shares during the period. AQR Capital Management LLC increased its position in Dolby Laboratories by 16.2% during the second quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker’s stock worth $49,690,000 after purchasing an additional 87,298 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Dolby Laboratories during the second quarter worth approximately $6,131,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research restated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Friday, September 20th.

Insider Activity

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

Dolby Laboratories Stock Down 0.8 %

DLB opened at $74.25 on Tuesday. The company has a market cap of $7.12 billion, a P/E ratio of 37.88 and a beta of 0.97. The company has a 50 day moving average of $72.47 and a two-hundred day moving average of $77.01. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $90.06.

Dolby Laboratories (NYSE:DLB) last issued its 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 company had revenue of $288.82 million during the quarter, compared to the consensus estimate of $286.26 million. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. Research analysts anticipate that Dolby Laboratories, Inc. will post 2.72 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.62%. The ex-dividend date was Monday, August 19th. Dolby Laboratories’s dividend payout ratio (DPR) is 61.22%.

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

Dolby Laboratories 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.