Vestmark Advisory Solutions Inc. Has $3.30 Million Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Vestmark Advisory Solutions Inc. raised its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,238 shares of the electronics maker’s stock after acquiring an additional 1,156 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Dolby Laboratories were worth $3,295,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of DLB. Vanguard Group Inc. increased its holdings in shares of Dolby Laboratories by 3.3% during the third quarter. Vanguard Group Inc. now owns 6,389,084 shares of the electronics maker’s stock worth $506,399,000 after buying an additional 205,319 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Dolby Laboratories by 4.8% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock valued at $415,808,000 after purchasing an additional 239,578 shares during the last quarter. Morgan Stanley boosted its stake in shares of Dolby Laboratories by 11.9% during the third quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock valued at $388,556,000 after purchasing an additional 523,250 shares in the last quarter. Ninety One UK Ltd grew its holdings in shares of Dolby Laboratories by 29.0% during the fourth quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock worth $221,685,000 after purchasing an additional 578,239 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Dolby Laboratories by 12.5% in the third quarter. Bank of New York Mellon Corp now owns 1,884,088 shares of the electronics maker’s stock valued at $149,333,000 after buying an additional 209,369 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of DLB stock traded up $2.37 during trading hours on Friday, hitting $82.08. 730,646 shares of the company were exchanged, compared to its average volume of 313,915. Dolby Laboratories, Inc. has a fifty-two week low of $75.87 and a fifty-two week high of $91.01. The company has a 50 day simple moving average of $81.65 and a two-hundred day simple moving average of $83.22. The firm has a market cap of $7.85 billion, a P/E ratio of 41.88 and a beta of 0.98.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.22%. The firm had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.98 million. As a group, sell-side analysts expect that Dolby Laboratories, Inc. will post 2.6 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, May 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.46%. Dolby Laboratories’s dividend payout ratio is 61.22%.

Insider Activity at Dolby Laboratories

In related news, SVP John D. Couling sold 33,560 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $80.81, for a total value of $2,711,983.60. Following the transaction, the senior vice president now owns 108,519 shares of the company’s stock, valued at approximately $8,769,420.39. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 39.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a research note on Monday, April 29th. StockNews.com downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Friday.

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.