Laird Norton Wetherby Wealth Management LLC Buys 346 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Laird Norton Wetherby Wealth Management LLC increased its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,220 shares of the electronics maker’s stock after buying an additional 346 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Dolby Laboratories were worth $330,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Barclays PLC grew its stake in Dolby Laboratories by 80.5% in the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock valued at $2,544,000 after purchasing an additional 14,825 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in Dolby Laboratories by 12.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 16,239 shares of the electronics maker’s stock valued at $1,268,000 after purchasing an additional 1,797 shares during the period. Mitchell & Pahl Private Wealth LLC grew its stake in Dolby Laboratories by 5.3% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 14,771 shares of the electronics maker’s stock valued at $1,154,000 after purchasing an additional 745 shares during the period. Nisa Investment Advisors LLC grew its stake in Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 301 shares during the period. Finally, SG Americas Securities LLC bought a new position in Dolby Laboratories in the 4th quarter valued at $3,543,000. Institutional investors own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DLB shares. Rosenblatt Securities reduced their price objective on Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Barrington Research restated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, May 2nd. Tigress Financial initiated coverage on Dolby Laboratories in a research note on Thursday. They issued a “buy” rating and a $112.00 price objective for the company. Finally, StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st.

Dolby Laboratories Price Performance

Shares of NYSE DLB opened at $77.54 on Friday. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66. The business’s fifty day moving average price is $76.57 and its 200-day moving average price is $78.48. The stock has a market capitalization of $7.40 billion, a PE ratio of 28.51 and a beta of 0.95.

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

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th will be issued 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 yield of 1.70%. Dolby Laboratories’s dividend payout ratio (DPR) is 49.81%.

Insider Buying and Selling

In related news, CMO Todd Pendleton sold 18,121 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the sale, the chief marketing officer now owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. This represents a 32.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John D. Couling sold 675 shares of the 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 sale, the senior vice president now directly owns 121,151 shares in the company, valued at $9,091,171.04. This trade represents a 0.55% decrease in their position. The disclosure for this sale can be found here. 38.39% of the stock is currently owned by insiders.

Dolby Laboratories Company Profile

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.