Main Management ETF Advisors LLC Cuts Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Main Management ETF Advisors LLC lowered its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,968 shares of the electronics maker’s stock after selling 896 shares during the period. Main Management ETF Advisors LLC’s holdings in Dolby Laboratories were worth $779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Dolby Laboratories by 10,441,900.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after purchasing an additional 104,419 shares in the last quarter. Barclays PLC increased its holdings in Dolby Laboratories by 80.5% in the third quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock valued at $2,544,000 after buying an additional 14,825 shares during the last quarter. Franklin Resources Inc. raised its stake in Dolby Laboratories by 22.0% in the third quarter. Franklin Resources Inc. now owns 47,247 shares of the electronics maker’s stock valued at $3,513,000 after buying an additional 8,509 shares in the last quarter. AlphaQuest LLC lifted its holdings in Dolby Laboratories by 111.1% during the 4th quarter. AlphaQuest LLC now owns 6,148 shares of the electronics maker’s stock worth $480,000 after buying an additional 3,235 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Dolby Laboratories during the 4th quarter worth about $3,543,000. 58.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CMO Todd Pendleton sold 18,121 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the sale, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. This represents a 32.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John D. Couling sold 675 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $75.04, for a total value of $50,652.00. Following the transaction, the senior vice president now directly owns 121,151 shares in the company, valued at approximately $9,091,171.04. This represents a 0.55% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 38.39% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of DLB stock opened at $77.57 on Wednesday. The stock’s 50-day moving average is $76.88 and its two-hundred day moving average is $78.44. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 28.52 and a beta of 0.95.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.05. The firm had revenue of $369.56 million during the quarter, compared to analysts’ expectations of $375.44 million. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 EPS. As a group, research analysts predict that Dolby Laboratories, Inc. will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.70%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 49.81%.

Analysts Set New Price Targets

DLB has been the topic of several research analyst reports. Barrington Research reissued an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, May 2nd. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Finally, Rosenblatt Securities lowered their target price on shares of Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating for the company in a report on Friday, May 2nd.

About Dolby Laboratories

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.