Creative Planning Buys 286 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Creative Planning lifted its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,094 shares of the electronics maker’s stock after acquiring an additional 286 shares during the period. Creative Planning’s holdings in Dolby Laboratories were worth $313,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of Dolby Laboratories by 398.8% during the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 331 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Dolby Laboratories in the second quarter valued at $37,000. GAMMA Investing LLC grew its position in Dolby Laboratories by 64.6% in the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 192 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Dolby Laboratories by 192.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock valued at $46,000 after purchasing an additional 379 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in Dolby Laboratories by 693.3% in the first quarter. Headlands Technologies LLC now owns 595 shares of the electronics maker’s stock valued at $50,000 after purchasing an additional 520 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

Shares of DLB opened at $75.14 on Friday. The firm has a 50-day moving average of $73.26 and a 200-day moving average of $76.37. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $90.06. The company has a market cap of $7.16 billion, a PE ratio of 34.31 and a beta of 0.98.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.14. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. The company had revenue of $288.82 million during the quarter, compared to the consensus estimate of $286.26 million. Analysts expect that Dolby Laboratories, Inc. will post 2.71 earnings per share for the current year.

Dolby Laboratories announced that its board has initiated a share repurchase program on Wednesday, August 7th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms recently weighed in on DLB. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Friday. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, September 20th.

Insider Activity

In other news, CEO Kevin J. Yeaman sold 28,512 shares of Dolby Laboratories stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the completion of the transaction, the chief executive officer now owns 83,721 shares of the company’s stock, valued at $6,205,400.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 39.54% of the company’s stock.

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.