Norris Perne & French LLP MI Raises Position in Dolby Laboratories, Inc. (NYSE:DLB)

Norris Perne & French LLP MI lifted its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 208,565 shares of the electronics maker’s stock after purchasing an additional 5,752 shares during the period. Norris Perne & French LLP MI owned 0.22% of Dolby Laboratories worth $17,472,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Thrive Wealth Management LLC bought a new position in Dolby Laboratories in the 1st quarter worth approximately $206,000. Cardinal Capital Management boosted its holdings in Dolby Laboratories by 15.9% in the 1st quarter. Cardinal Capital Management now owns 34,403 shares of the electronics maker’s stock worth $2,882,000 after buying an additional 4,710 shares during the period. Janiczek Wealth Management LLC boosted its holdings in Dolby Laboratories by 14.0% in the 1st quarter. Janiczek Wealth Management LLC now owns 4,618 shares of the electronics maker’s stock worth $387,000 after buying an additional 567 shares during the period. Sunbelt Securities Inc. boosted its holdings in Dolby Laboratories by 1,631.0% in the 1st quarter. Sunbelt Securities Inc. now owns 502 shares of the electronics maker’s stock worth $42,000 after buying an additional 473 shares during the period. Finally, MJP Associates Inc. ADV boosted its holdings in Dolby Laboratories by 27.2% in the 1st quarter. MJP Associates Inc. ADV now owns 3,436 shares of the electronics maker’s stock valued at $288,000 after purchasing an additional 735 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a report on Friday, June 7th. StockNews.com raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, May 11th. Finally, Barrington Research raised shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Monday, June 3rd.

Dolby Laboratories Stock Down 0.0 %

Shares of NYSE DLB traded down $0.03 during mid-day trading on Friday, reaching $79.23. 532,047 shares of the company were exchanged, compared to its average volume of 364,325. Dolby Laboratories, Inc. has a 52 week low of $75.87 and a 52 week high of $91.01. The stock has a market capitalization of $7.59 billion, a PE ratio of 40.41 and a beta of 0.99. The company’s 50 day moving average price is $80.21 and its 200 day moving average price is $82.06.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Thursday, May 2nd. The electronics maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.15%. The company had revenue of $364.52 million during the quarter, compared to the consensus estimate of $361.98 million. On average, sell-side analysts predict that Dolby Laboratories, Inc. will post 2.68 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Monday, May 13th. Dolby Laboratories’s payout ratio is 61.22%.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total value of $181,772.46. Following the transaction, the executive vice president now owns 58,325 shares in the company, valued at $4,643,836.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 39.54% of the company’s stock.

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.