Schonfeld Strategic Advisors LLC Buys 6,102 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Schonfeld Strategic Advisors LLC grew its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 98.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,300 shares of the electronics maker’s stock after buying an additional 6,102 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Dolby Laboratories were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Fifth Third Bancorp raised its position 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 valued at $28,000 after acquiring an additional 163 shares during the period. Nisa Investment Advisors LLC raised its holdings in Dolby Laboratories by 436.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 301 shares during the period. Mather Group LLC. boosted its position 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 worth $41,000 after purchasing an additional 142 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Dolby Laboratories in the 4th quarter valued at $57,000. Finally, GAMMA Investing LLC increased its position 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 valued at $61,000 after buying an additional 525 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dolby Laboratories

In other news, SVP John D. Couling sold 675 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $75.04, for a total value of $50,652.00. Following the completion of the sale, the senior vice president now owns 121,151 shares of the company’s stock, valued at approximately $9,091,171.04. This represents a 0.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 owns 37,290 shares in the company, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 38.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on DLB. Barrington Research reissued an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Friday, May 2nd. Rosenblatt Securities lowered their target price on Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st.

Dolby Laboratories Price Performance

DLB opened at $75.05 on Friday. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 27.59 and a beta of 0.95. The business’s 50-day moving average price is $77.18 and its two-hundred day moving average price is $78.31. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.05. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The business had revenue of $369.56 million for the quarter, compared to analyst estimates of $375.44 million. During the same quarter last year, the firm earned $1.27 EPS. Dolby Laboratories’s revenue for the quarter was up 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, May 13th. Dolby Laboratories’s dividend payout ratio (DPR) is currently 49.81%.

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.