Leuthold Group LLC Lowers Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Leuthold Group LLC trimmed its position in Dolby Laboratories, Inc. (NYSE:DLB) by 9.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,075 shares of the electronics maker’s stock after selling 4,433 shares during the period. Leuthold Group LLC’s holdings in Dolby Laboratories were worth $3,254,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Lord Abbett & CO. LLC boosted its stake in Dolby Laboratories by 9.8% during the first quarter. Lord Abbett & CO. LLC now owns 266,672 shares of the electronics maker’s stock valued at $22,339,000 after buying an additional 23,804 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of Dolby Laboratories by 47.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 31,518 shares of the electronics maker’s stock valued at $2,640,000 after acquiring an additional 10,202 shares during the last quarter. Vanguard Group Inc. boosted its position 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 valued at $544,711,000 after acquiring an additional 107,713 shares during the last quarter. Boston Trust Walden Corp grew its holdings in shares of Dolby Laboratories by 3.1% during the second quarter. Boston Trust Walden Corp now owns 376,793 shares of the electronics maker’s stock worth $29,853,000 after purchasing an additional 11,177 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new position in shares of Dolby Laboratories in the second quarter worth approximately $3,348,000. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on DLB. Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, August 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a report on Friday, June 7th.

Dolby Laboratories Trading Up 1.1 %

Shares of Dolby Laboratories stock opened at $72.67 on Thursday. The firm has a market capitalization of $6.96 billion, a PE ratio of 37.08 and a beta of 0.97. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $90.06. The business’s 50-day moving average price is $73.75 and its 200-day moving average price is $78.44.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.14. The business had revenue of $288.82 million for the quarter, compared to analysts’ expectations of $286.26 million. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. As a group, analysts predict that Dolby Laboratories, Inc. will post 2.72 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Monday, August 19th. Dolby Laboratories’s dividend payout ratio 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.