Brighton Jones LLC Makes New $345,000 Investment in Dolby Laboratories $DLB

Brighton Jones LLC bought a new position in Dolby Laboratories (NYSE:DLB) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,639 shares of the electronics maker’s stock, valued at approximately $345,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in DLB. Bank of New York Mellon Corp grew its holdings in Dolby Laboratories by 18.3% during the 1st quarter. Bank of New York Mellon Corp now owns 5,709,193 shares of the electronics maker’s stock worth $458,505,000 after acquiring an additional 882,716 shares in the last quarter. Vanguard Group Inc. increased its holdings in Dolby Laboratories by 7.1% during the first quarter. Vanguard Group Inc. now owns 7,535,722 shares of the electronics maker’s stock valued at $605,194,000 after buying an additional 502,110 shares during the period. AQR Capital Management LLC increased its holdings in Dolby Laboratories by 63.6% during the first quarter. AQR Capital Management LLC now owns 1,143,978 shares of the electronics maker’s stock valued at $90,946,000 after buying an additional 444,718 shares during the period. Jones Financial Companies Lllp raised its stake in Dolby Laboratories by 241,160.1% in the first quarter. Jones Financial Companies Lllp now owns 429,443 shares of the electronics maker’s stock worth $36,975,000 after buying an additional 429,265 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Dolby Laboratories during the first quarter worth $16,890,000. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Stock Up 1.0%

Dolby Laboratories stock opened at $65.60 on Friday. The stock has a 50-day moving average price of $70.82 and a 200 day moving average price of $73.32. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 24.03 and a beta of 0.92. Dolby Laboratories has a 52 week low of $64.50 and a 52 week high of $89.66.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, July 31st. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $315.55 million during the quarter, compared to analyst estimates of $305.23 million. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. Dolby Laboratories’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. Research analysts anticipate that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DLB. Rosenblatt Securities reissued a “buy” rating and issued a $95.00 price target on shares of Dolby Laboratories in a research report on Friday, August 1st. Robert W. Baird began coverage on shares of Dolby Laboratories in a research report on Friday, September 5th. They set a “neutral” rating and a $74.00 price target for the company. Baird R W raised shares of Dolby Laboratories to a “hold” rating in a research report on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Dolby Laboratories in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.75.

Insiders Place Their Bets

In related news, CEO Kevin J. Yeaman sold 25,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $72.31, for a total transaction of $1,807,750.00. Following the completion of the transaction, the chief executive officer directly owned 114,725 shares in the company, valued at $8,295,764.75. The trade was a 17.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Shriram Revankar sold 7,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.92, for a total value of $524,440.00. Following the sale, the senior vice president directly owned 70,435 shares in the company, valued at $5,276,990.20. This represents a 9.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,000 shares of company stock valued at $5,845,440 over the last 90 days. 38.39% of the stock is currently owned by insiders.

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.