Dolby Laboratories $DLB Shares Purchased by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC increased its position in shares of Dolby Laboratories (NYSE:DLB) by 27.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,312 shares of the electronics maker’s stock after purchasing an additional 939 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Dolby Laboratories were worth $320,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DLB. Bank of New York Mellon Corp raised its holdings in Dolby Laboratories by 18.3% during the first quarter. Bank of New York Mellon Corp now owns 5,709,193 shares of the electronics maker’s stock worth $458,505,000 after purchasing an additional 882,716 shares during the last quarter. Vanguard Group Inc. raised its holdings in Dolby Laboratories by 7.1% during the first quarter. Vanguard Group Inc. now owns 7,535,722 shares of the electronics maker’s stock worth $605,194,000 after purchasing an additional 502,110 shares during the last quarter. AQR Capital Management LLC raised its holdings in Dolby Laboratories by 63.6% during the first quarter. AQR Capital Management LLC now owns 1,143,978 shares of the electronics maker’s stock worth $90,946,000 after purchasing an additional 444,718 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Dolby Laboratories by 241,160.1% during the 1st quarter. Jones Financial Companies Lllp now owns 429,443 shares of the electronics maker’s stock worth $36,975,000 after purchasing an additional 429,265 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Dolby Laboratories during the 1st quarter worth approximately $16,890,000. 58.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DLB has been the subject of several research reports. Baird R W upgraded Dolby Laboratories to a “hold” rating in a research report on Friday, September 5th. Rosenblatt Securities reissued a “buy” rating and issued a $95.00 price target on shares of Dolby Laboratories in a report on Friday, August 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Dolby Laboratories in a report on Wednesday, October 8th. Wall Street Zen raised Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Finally, Tigress Financial boosted their price target on Dolby Laboratories from $112.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.75.

Dolby Laboratories Stock Up 0.9%

Shares of NYSE:DLB opened at $66.25 on Friday. The company has a market cap of $6.35 billion, a P/E ratio of 24.27 and a beta of 0.92. Dolby Laboratories has a 52 week low of $64.50 and a 52 week high of $89.66. The business has a fifty day simple moving average of $70.63 and a 200-day simple moving average of $73.27.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $315.55 million during the quarter, compared to the consensus estimate of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 earnings per share. Sell-side analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 25,000 shares of the business’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $68.87, for a total transaction of $1,721,750.00. Following the completion of the sale, the chief executive officer directly owned 114,725 shares of the company’s stock, valued at $7,901,110.75. The trade was a 17.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Shriram Revankar sold 7,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $74.92, for a total transaction of $524,440.00. Following the sale, the senior vice president directly owned 70,435 shares of the company’s stock, valued at $5,276,990.20. This represents a 9.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 82,000 shares of company stock valued at $5,845,440 over the last three months. Corporate 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.