Janus Henderson Group PLC lifted its holdings in shares of Dolby Laboratories (NYSE:DLB) by 352.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,657,618 shares of the electronics maker’s stock after acquiring an additional 2,069,849 shares during the period. Janus Henderson Group PLC owned 2.60% of Dolby Laboratories worth $152,875,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Alps Advisors Inc. raised its position in shares of Dolby Laboratories by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 9,461 shares of the electronics maker’s stock worth $463,000 after acquiring an additional 24 shares in the last quarter. US Bancorp DE raised its position in shares of Dolby Laboratories by 2.6% during the 2nd quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock worth $149,000 after acquiring an additional 78 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Dolby Laboratories by 1.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,769 shares of the electronics maker’s stock worth $380,000 after acquiring an additional 94 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Dolby Laboratories by 1.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 10,226 shares of the electronics maker’s stock worth $501,000 after acquiring an additional 114 shares in the last quarter. Finally, Wrapmanager Inc. raised its position in shares of Dolby Laboratories by 3.1% during the 2nd quarter. Wrapmanager Inc. now owns 6,296 shares of the electronics maker’s stock worth $308,000 after acquiring an additional 190 shares in the last quarter. 52.53% of the stock is currently owned by institutional investors and hedge funds.
Dolby Laboratories (NYSE DLB) traded up $0.10 during trading hours on Tuesday, reaching $61.89. The company had a trading volume of 247,400 shares, compared to its average volume of 381,090. The stock has a market cap of $6,320.00, a P/E ratio of 29.71, a PEG ratio of 2.29 and a beta of 0.85. Dolby Laboratories has a 12-month low of $44.98 and a 12-month high of $63.34.
Dolby Laboratories (NYSE:DLB) last announced its earnings results on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.18. Dolby Laboratories had a return on equity of 10.62% and a net margin of 18.66%. The company had revenue of $242.05 million for the quarter, compared to the consensus estimate of $244.80 million. During the same period last year, the business posted $0.37 EPS. The company’s revenue was up 3.9% on a year-over-year basis. research analysts expect that Dolby Laboratories will post 2.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, November 6th were paid a $0.16 dividend. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, November 3rd. Dolby Laboratories’s dividend payout ratio (DPR) is 32.99%.
In other Dolby Laboratories news, Director Peter C. Gotcher sold 9,310 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $60.00, for a total value of $558,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 14,000 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $56.25, for a total value of $787,500.00. The disclosure for this sale can be found here. Insiders sold a total of 570,095 shares of company stock worth $34,617,013 over the last quarter. Company insiders own 43.80% of the company’s stock.
Several brokerages have recently weighed in on DLB. B. Riley reissued a “dlb (” rating and set a $61.50 target price on shares of Dolby Laboratories in a research report on Wednesday, August 23rd. BidaskClub lowered Dolby Laboratories from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Zacks Investment Research lowered Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Dougherty & Co restated a “buy” rating and set a $63.00 price target on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $52.00 price target (up previously from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $60.17.
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About Dolby Laboratories
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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