Wealth Enhancement Advisory Services LLC Boosts Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 37.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,326 shares of the electronics maker’s stock after acquiring an additional 1,465 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Dolby Laboratories were worth $408,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Dolby Laboratories by 398.8% in the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock worth $35,000 after buying an additional 331 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Dolby Laboratories in the 2nd quarter worth $37,000. GAMMA Investing LLC lifted its holdings in shares of Dolby Laboratories by 64.6% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock worth $39,000 after buying an additional 192 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Dolby Laboratories by 192.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock worth $46,000 after buying an additional 379 shares during the period. Finally, Headlands Technologies LLC lifted its holdings in shares of Dolby Laboratories by 693.3% in the 1st quarter. Headlands Technologies LLC now owns 595 shares of the electronics maker’s stock worth $50,000 after buying an additional 520 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of the 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 transaction, the chief executive officer now owns 83,721 shares of the company’s stock, valued at $6,205,400.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 39.54% of the company’s stock.

Analyst Upgrades and Downgrades

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

Dolby Laboratories Stock Down 0.9 %

Shares of DLB opened at $75.15 on Friday. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 34.32 and a beta of 0.98. The stock’s 50-day moving average price is $73.26 and its 200-day moving average price is $76.35.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.14. The company had revenue of $288.82 million for 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%. As a group, equities analysts anticipate that Dolby Laboratories, Inc. will post 2.71 EPS for the current fiscal year.

Dolby Laboratories announced that its board has initiated a stock buyback plan on Wednesday, August 7th that permits the company to repurchase $350.00 million in outstanding shares. This repurchase authorization permits the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.