Northeast Financial Consultants Inc continued to hold its stake in Dolby Laboratories (NYSE:DLB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,369 shares of the electronics maker’s stock at the end of the second quarter. Northeast Financial Consultants Inc’s holdings in Dolby Laboratories were worth $214,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in DLB. Clearbridge Investments LLC increased its stake in Dolby Laboratories by 8.8% in the first quarter. Clearbridge Investments LLC now owns 6,181,361 shares of the electronics maker’s stock worth $323,965,000 after buying an additional 497,767 shares in the last quarter. Vanguard Group Inc. increased its stake in Dolby Laboratories by 8.4% in the first quarter. Vanguard Group Inc. now owns 4,621,794 shares of the electronics maker’s stock worth $242,228,000 after buying an additional 359,509 shares in the last quarter. BlackRock Inc. increased its stake in Dolby Laboratories by 13,583.7% in the first quarter. BlackRock Inc. now owns 2,431,722 shares of the electronics maker’s stock worth $127,449,000 after buying an additional 2,413,951 shares in the last quarter. American Century Companies Inc. increased its stake in Dolby Laboratories by 35.5% in the first quarter. American Century Companies Inc. now owns 1,710,462 shares of the electronics maker’s stock worth $89,645,000 after buying an additional 448,302 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its stake in Dolby Laboratories by 6.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,678,700 shares of the electronics maker’s stock worth $87,981,000 after buying an additional 95,700 shares in the last quarter. 50.65% of the stock is currently owned by institutional investors and hedge funds.
Dolby Laboratories (NYSE DLB) opened at 52.57 on Monday. Dolby Laboratories has a 12-month low of $44.99 and a 12-month high of $55.02. The company’s 50-day moving average price is $50.94 and its 200-day moving average price is $50.57. The company has a market cap of $5.39 billion, a PE ratio of 26.89 and a beta of 0.77.
Dolby Laboratories (NYSE:DLB) last posted its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.10. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.39%. The company had revenue of $305.67 million for the quarter, compared to analyst estimates of $296.88 million. During the same quarter in the prior year, the business posted $0.62 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. Equities analysts anticipate that Dolby Laboratories will post $1.98 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, August 7th will be paid a $0.14 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.56 annualized dividend and a yield of 1.07%. Dolby Laboratories’s dividend payout ratio (DPR) is 28.57%.
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A number of analysts recently issued reports on DLB shares. B. Riley reaffirmed a “neutral” rating and issued a $57.00 target price on shares of Dolby Laboratories in a research report on Sunday, April 30th. BidaskClub raised Dolby Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, Zacks Investment Research downgraded Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $54.38.
In other Dolby Laboratories news, CFO Lewis Chew sold 14,300 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $50.34, for a total value of $719,862.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin J. Yeaman sold 10,000 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $51.33, for a total transaction of $513,300.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,300 shares of company stock valued at $1,336,662. Company insiders own 43.80% of the company’s stock.
About Dolby Laboratories
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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