Stifel Financial Corp Reduces Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Stifel Financial Corp decreased its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 18.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 42,875 shares of the electronics maker’s stock after selling 9,511 shares during the quarter. Stifel Financial Corp’s holdings in Dolby Laboratories were worth $3,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DLB. Fifth Third Bancorp increased its stake in Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock worth $28,000 after buying an additional 163 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Dolby Laboratories by 436.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 301 shares during the period. Mather Group LLC. raised its stake in shares of Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after acquiring an additional 142 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Dolby Laboratories in the fourth quarter valued at approximately $57,000. Finally, GAMMA Investing LLC grew its stake in Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after purchasing an additional 525 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Trading Down 1.7 %

DLB opened at $74.89 on Friday. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 27.53 and a beta of 0.94. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.66. The stock has a fifty day moving average price of $77.73 and a 200-day moving average price of $78.31.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.05. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The business had revenue of $369.56 million during the quarter, compared to the consensus estimate of $375.44 million. During the same period in the previous year, the company posted $1.27 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. On average, equities research analysts forecast that Dolby Laboratories, Inc. will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 13th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.32 annualized dividend and a yield of 1.76%. Dolby Laboratories’s dividend payout ratio (DPR) is 48.53%.

Insiders Place Their Bets

In related news, CMO Todd Pendleton sold 18,121 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the transaction, the chief marketing officer now directly owns 37,290 shares in the company, valued at $3,123,037.50. The trade was a 32.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the completion of the sale, the chief accounting officer now owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 38.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Barrington Research reiterated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Friday. Rosenblatt Securities cut their target price on shares of Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday. Finally, StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st.

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.