7,900 Shares in Dolby Laboratories, Inc. (NYSE:DLB) Bought by Crestline Management LP

Crestline Management LP bought a new stake in Dolby Laboratories, Inc. (NYSE:DLB) during the 4th quarter, Holdings Channel.com reports. The fund bought 7,900 shares of the electronics maker’s stock, valued at approximately $617,000.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC raised its stake in Dolby Laboratories by 80.5% in the third quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock valued at $2,544,000 after buying an additional 14,825 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Dolby Laboratories by 22.0% in the 3rd quarter. Franklin Resources Inc. now owns 47,247 shares of the electronics maker’s stock valued at $3,513,000 after purchasing an additional 8,509 shares during the last quarter. GAMMA Investing LLC raised 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 purchasing an additional 525 shares during the last quarter. Diversified Trust Co purchased a new stake in Dolby Laboratories during the 4th quarter worth approximately $360,000. Finally, Harbor Capital Advisors Inc. increased its stake in Dolby Laboratories by 5.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock valued at $201,000 after purchasing an additional 136 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Dolby Laboratories news, SVP John D. Couling sold 675 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $75.04, for a total value of $50,652.00. Following the completion of the transaction, the senior vice president now owns 121,151 shares of the company’s stock, valued at $9,091,171.04. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Todd Pendleton sold 18,121 shares of Dolby Laboratories stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. This trade represents a 32.70 % 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.

Dolby Laboratories Price Performance

NYSE DLB opened at $75.29 on Friday. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The company has a market cap of $7.19 billion, a PE ratio of 27.68 and a beta of 0.95. The stock’s 50 day simple moving average is $77.07 and its 200-day simple moving average is $78.33.

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

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Tuesday, May 13th. Dolby Laboratories’s dividend payout ratio is presently 49.81%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DLB shares. Rosenblatt Securities cut their price objective on Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Barrington Research reissued an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report 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.

About Dolby Laboratories

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.