Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Man Group plc

Man Group plc trimmed its position in Dolby Laboratories, Inc. (NYSE:DLB) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 149,168 shares of the electronics maker’s stock after selling 2,537 shares during the period. Man Group plc owned approximately 0.16% of Dolby Laboratories worth $11,650,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Dolby Laboratories by 64.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock valued at $376,948,000 after acquiring an additional 1,887,518 shares during the last quarter. Norges Bank acquired a new stake in shares of Dolby Laboratories during the 4th quarter valued at $55,356,000. Alyeska Investment Group L.P. acquired a new stake in shares of Dolby Laboratories during the 4th quarter valued at $27,314,000. Frontier Capital Management Co. LLC acquired a new stake in shares of Dolby Laboratories during the 4th quarter valued at $24,323,000. Finally, Oberweis Asset Management Inc. acquired a new stake in shares of Dolby Laboratories during the 4th quarter valued at $14,136,000. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Stock Up 0.4%

Shares of DLB opened at $77.54 on Monday. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 28.51 and a beta of 0.95. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.66. The company has a 50-day moving average price of $76.57 and a two-hundred day moving average price of $78.55.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, topping 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 net margin of 19.97% and a return on equity of 11.32%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 earnings per share. Equities research analysts expect that Dolby Laboratories, Inc. will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CMO Todd Pendleton sold 18,121 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now directly 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 Securities & Exchange Commission, which is accessible through this link. Also, SVP John D. Couling sold 675 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $75.04, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 38.39% of the company’s stock.

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.