Gotham Asset Management LLC Increases Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Gotham Asset Management LLC increased its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 37.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,594 shares of the electronics maker’s stock after purchasing an additional 3,167 shares during the period. Gotham Asset Management LLC’s holdings in Dolby Laboratories were worth $905,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in DLB. Fifth Third Bancorp boosted its stake 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 purchasing an additional 163 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 301 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 142 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Dolby Laboratories in the 4th quarter valued at $57,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Dolby Laboratories in the 4th quarter valued at $71,000. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Stock Up 0.4%

Shares of DLB opened at $77.54 on Friday. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66. The stock has a market capitalization of $7.40 billion, a P/E ratio of 28.51 and a beta of 0.95. The firm has a fifty day simple moving average of $76.57 and a two-hundred day simple moving average of $78.52.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $1.27 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts expect that Dolby Laboratories, Inc. will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 13th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.32 annualized dividend and a yield of 1.70%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 49.81%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. 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. Rosenblatt Securities dropped their price target on shares of Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Tigress Financial assumed coverage on shares of Dolby Laboratories in a research report on Thursday. They set a “buy” rating and a $112.00 price target for the company. Finally, StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st.

Insiders Place Their Bets

In related news, CMO Todd Pendleton sold 18,121 shares of the stock in a transaction dated 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 directly owns 37,290 shares in the company, valued at $3,123,037.50. This trade represents a 32.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John D. Couling sold 675 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $75.04, for a total transaction 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 approximately $9,091,171.04. The trade was a 0.55% 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.

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.