Leuthold Group LLC Has $3.81 Million Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Leuthold Group LLC trimmed its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 0.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 45,508 shares of the electronics maker’s stock after selling 262 shares during the period. Leuthold Group LLC’s holdings in Dolby Laboratories were worth $3,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Texas Permanent School Fund Corp grew its position in Dolby Laboratories by 1.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 52,068 shares of the electronics maker’s stock worth $4,362,000 after purchasing an additional 628 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Dolby Laboratories during the 1st quarter valued at about $737,000. FORA Capital LLC lifted its holdings in Dolby Laboratories by 61.7% during the 1st quarter. FORA Capital LLC now owns 10,292 shares of the electronics maker’s stock valued at $862,000 after purchasing an additional 3,926 shares during the last quarter. Capstone Investment Advisors LLC raised its stake in shares of Dolby Laboratories by 226.8% in the first quarter. Capstone Investment Advisors LLC now owns 9,480 shares of the electronics maker’s stock worth $794,000 after acquiring an additional 6,579 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Dolby Laboratories by 1.1% in the first quarter. Janney Montgomery Scott LLC now owns 89,912 shares of the electronics maker’s stock worth $7,532,000 after acquiring an additional 1,007 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Stock Performance

NYSE:DLB traded up $0.52 during trading hours on Friday, hitting $80.14. The stock had a trading volume of 131,553 shares, compared to its average volume of 370,969. Dolby Laboratories, Inc. has a one year low of $75.87 and a one year high of $91.01. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 40.74 and a beta of 0.99. The business’s 50 day moving average is $80.33 and its 200-day moving average is $81.62.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, May 2nd. The electronics maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.15%. The company had revenue of $364.52 million during the quarter, compared to the consensus estimate of $361.98 million. On average, sell-side analysts anticipate that Dolby Laboratories, Inc. will post 2.68 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Monday, May 13th. Dolby Laboratories’s dividend payout ratio is currently 61.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, May 11th. Barrington Research raised shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a research note on Monday, June 3rd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $98.00 price target on shares of Dolby Laboratories in a research note on Friday, June 7th.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total value of $181,772.46. Following the completion of the sale, the executive vice president now owns 58,325 shares in the company, valued at $4,643,836.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 39.54% 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.