Barbara Oil Co. Invests $315,000 in Dolby Laboratories, Inc. (DLB) Stock

Barbara Oil Co. bought a new stake in Dolby Laboratories, Inc. (NYSE:DLB) in the first quarter, HoldingsChannel.com reports. The firm bought 5,000 shares of the electronics maker’s stock, valued at approximately $315,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new position in shares of Dolby Laboratories in the 4th quarter valued at approximately $27,000. Essex Savings Bank purchased a new position in shares of Dolby Laboratories in the 4th quarter valued at approximately $28,000. Cutler Group LP purchased a new position in shares of Dolby Laboratories in the 4th quarter valued at approximately $30,000. Enlightenment Research LLC purchased a new position in shares of Dolby Laboratories in the 4th quarter valued at approximately $31,000. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of Dolby Laboratories in the 4th quarter valued at approximately $43,000. Institutional investors own 53.67% of the company’s stock.

A number of research analysts have recently commented on DLB shares. Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. ValuEngine cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Barrington Research reiterated a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 31st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Dolby Laboratories has an average rating of “Buy” and an average price target of $76.50.

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 50,000 shares of Dolby Laboratories stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $64.80, for a total transaction of $3,240,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lewis Chew sold 35,000 shares of Dolby Laboratories stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $63.41, for a total value of $2,219,350.00. The disclosure for this sale can be found here. Insiders have sold 967,959 shares of company stock valued at $63,085,984 in the last quarter. 40.23% of the stock is owned by company insiders.

Shares of NYSE:DLB opened at $62.26 on Friday. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 2.01 and a beta of 0.86. Dolby Laboratories, Inc. has a 12-month low of $58.17 and a 12-month high of $72.04.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.18. The business had revenue of $338.26 million during the quarter, compared to analysts’ expectations of $337.45 million. Dolby Laboratories had a return on equity of 11.12% and a net margin of 24.93%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 earnings per share. As a group, equities research analysts forecast that Dolby Laboratories, Inc. will post 2.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Monday, May 13th. Dolby Laboratories’s payout ratio is 31.67%.

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About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

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

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