Los Angeles Capital Management & Equity Research Inc. Increases Holdings in Dolby Laboratories (DLB)

Los Angeles Capital Management & Equity Research Inc. raised its position in Dolby Laboratories (NYSE:DLB) by 0.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 141,530 shares of the electronics maker’s stock after acquiring an additional 380 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.14% of Dolby Laboratories worth $6,929,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Swiss National Bank grew its stake in Dolby Laboratories by 3.4% in the first quarter. Swiss National Bank now owns 94,000 shares of the electronics maker’s stock valued at $4,927,000 after acquiring an additional 3,100 shares during the period. BB&T Securities LLC grew its stake in Dolby Laboratories by 71.9% in the first quarter. BB&T Securities LLC now owns 13,308 shares of the electronics maker’s stock valued at $697,000 after acquiring an additional 5,567 shares during the period. Mackenzie Financial Corp grew its stake in Dolby Laboratories by 21.2% in the first quarter. Mackenzie Financial Corp now owns 167,750 shares of the electronics maker’s stock valued at $8,792,000 after acquiring an additional 29,300 shares during the period. Karp Capital Management Corp acquired a new stake in Dolby Laboratories in the first quarter valued at approximately $1,367,000. Finally, Skylands Capital LLC acquired a new stake in Dolby Laboratories in the second quarter valued at approximately $759,000. 51.88% of the stock is owned by hedge funds and other institutional investors.

In related news, major shareholder Dagmar Dolby sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $52.22, for a total value of $5,222,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kevin J. Yeaman sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,360,000 shares of company stock worth $68,372,900 in the last quarter. Company insiders own 43.80% of the company’s stock.

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Dolby Laboratories (NYSE:DLB) opened at 50.49 on Monday. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 25.83 and a beta of 0.81. Dolby Laboratories has a 12-month low of $44.99 and a 12-month high of $55.02. The stock has a 50 day moving average price of $50.72 and a 200-day moving average price of $50.88.

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 analysts’ consensus estimates of $0.65 by $0.10. Dolby Laboratories had a return on equity of 10.25% and a net margin of 19.02%. The firm had revenue of $305.67 million for the quarter, compared to the consensus estimate of $296.88 million. During the same quarter in the prior year, the business earned $0.62 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts predict that Dolby Laboratories will post $1.99 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, August 7th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, August 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.11%. Dolby Laboratories’s dividend payout ratio (DPR) is 28.57%.

DLB has been the subject of a number of research reports. B. Riley reissued a “buy” rating and issued a $61.50 price objective on shares of Dolby Laboratories in a research note on Friday, July 28th. BidaskClub raised Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, Zacks Investment Research raised Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $54.38.

Dolby Laboratories Company Profile

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.

Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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