Axa S.A. Has $5.96 Million Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Axa S.A. boosted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 574.7% in the fourth quarter, Holdings Channel reports. The firm owned 76,358 shares of the electronics maker’s stock after purchasing an additional 65,040 shares during the quarter. Axa S.A.’s holdings in Dolby Laboratories were worth $5,964,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in DLB. Fifth Third Bancorp raised its holdings in shares of 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 in the last quarter. Nisa Investment Advisors LLC raised its stake in 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 in the last quarter. Mather Group LLC. lifted its holdings 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 during the period. Headlands Technologies LLC bought a new position in shares of Dolby Laboratories during the fourth quarter valued at $57,000. Finally, GAMMA Investing LLC grew its holdings in shares of Dolby Laboratories by 207.5% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after purchasing an additional 525 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories Stock Down 0.5 %

Shares of NYSE:DLB opened at $74.32 on Wednesday. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.66. The firm has a market cap of $7.09 billion, a P/E ratio of 27.32 and a beta of 0.95. The company’s 50-day moving average price is $77.46 and its two-hundred day moving average price is $78.34.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, beating 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 analyst estimates of $375.44 million. During the same quarter last year, the business posted $1.27 earnings per share. Dolby Laboratories’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, equities analysts predict that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, May 13th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 49.81%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DLB. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Rosenblatt Securities reduced their target price on Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Finally, Barrington Research reaffirmed an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Friday, May 2nd.

Insider Activity

In other Dolby Laboratories news, CMO Todd Pendleton sold 18,121 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were 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 approximately $3,123,037.50. This represents a 32.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 38.39% of the stock is currently owned by insiders.

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.