Cwm LLC Raises Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Cwm LLC lifted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 27.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,978 shares of the electronics maker’s stock after purchasing an additional 868 shares during the quarter. Cwm LLC’s holdings in Dolby Laboratories were worth $304,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in 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 buying an additional 107,713 shares in the last quarter. Ninety One UK Ltd increased its position in shares of Dolby Laboratories by 2.6% during the second quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker’s stock worth $185,791,000 after acquiring an additional 60,114 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in shares of Dolby Laboratories by 0.8% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,402,623 shares of the electronics maker’s stock valued at $111,130,000 after acquiring an additional 10,852 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Dolby Laboratories by 3.5% in the second quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker’s stock valued at $80,041,000 after purchasing an additional 33,848 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Dolby Laboratories by 27.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after purchasing an additional 168,744 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insider Activity at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 28,512 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 approximately $6,205,400.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 39.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reaffirmed 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 Trading Down 0.8 %

Shares of NYSE:DLB opened at $74.25 on Tuesday. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06. The company’s 50 day moving average is $72.47 and its two-hundred day moving average is $77.01. The company has a market cap of $7.12 billion, a PE ratio of 37.88 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.33 by $0.14. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. The firm had revenue of $288.82 million for the quarter, compared to analyst estimates of $286.26 million. As a group, equities research analysts expect that Dolby Laboratories, Inc. will post 2.72 EPS for the current year.

Dolby Laboratories announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $350.00 million in shares. This repurchase authorization authorizes the electronics maker to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Dolby Laboratories Announces Dividend

The firm also recently announced 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 payout ratio is 61.22%.

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.