Telemus Capital LLC Invests $923,000 in Dolby Laboratories, Inc. (NYSE:DLB)

by · The Cerbat Gem

Telemus Capital LLC purchased a new position in Dolby Laboratories, Inc. (NYSE:DLB – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 11,650 shares of the electronics maker’s stock, valued at approximately $923,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in Dolby Laboratories by 188.5% in the second quarter. Pacer Advisors Inc. now owns 4,047 shares of the electronics maker’s stock worth $339,000 after acquiring an additional 2,644 shares in the last quarter. Geode Capital Management LLC grew its position in Dolby Laboratories by 9.6% in the second quarter. Geode Capital Management LLC now owns 1,148,837 shares of the electronics maker’s stock worth $96,135,000 after acquiring an additional 100,163 shares in the last quarter. Prelude Capital Management LLC purchased a new position in shares of Dolby Laboratories during the first quarter valued at approximately $230,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Dolby Laboratories by 4.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 474,148 shares of the electronics maker’s stock valued at $37,581,000 after buying an additional 21,311 shares during the period. Finally, Norris Perne & French LLP MI boosted its position in shares of Dolby Laboratories by 0.9% during the third quarter. Norris Perne & French LLP MI now owns 208,765 shares of the electronics maker’s stock valued at $16,547,000 after buying an additional 1,920 shares during the period. Hedge funds and other institutional investors own 56.37% of the company’s stock.

Analysts Set New Price Targets

DLB has been the subject of several recent analyst reports. StockNews.com lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday. Rosenblatt Securities restated a “buy” rating and set a $98.00 target price on shares of Dolby Laboratories in a research report on Monday, December 11th.

Get Our Latest Analysis on DLB

Insider Activity at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 45,150 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $84.80, for a total value of $3,828,720.00. Following the completion of the transaction, the chief executive officer now owns 51,879 shares of the company’s stock, valued at $4,399,339.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Mark Andrew Sherman sold 8,856 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $86.19, for a total value of $763,298.64. Following the completion of the transaction, the executive vice president now owns 59,988 shares of the company’s stock, valued at $5,170,365.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin J. Yeaman sold 45,150 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $84.80, for a total transaction of $3,828,720.00. Following the completion of the transaction, the chief executive officer now directly owns 51,879 shares of the company’s stock, valued at approximately $4,399,339.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,096 shares of company stock worth $6,945,778. Company insiders own 39.54% of the company’s stock.

Dolby Laboratories Price Performance

Shares of NYSE:DLB opened at $84.35 on Friday. The firm has a market capitalization of $8.04 billion, a PE ratio of 40.95 and a beta of 0.97. The business has a 50 day simple moving average of $86.04 and a two-hundred day simple moving average of $84.06. Dolby Laboratories, Inc. has a 1 year low of $71.06 and a 1 year high of $91.01.

Dolby Laboratories (NYSE:DLB – Get Free Report) last announced its quarterly earnings results on Thursday, November 16th. The electronics maker reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.12. The firm had revenue of $290.56 million during the quarter, compared to analyst estimates of $286.39 million. Dolby Laboratories had a return on equity of 10.58% and a net margin of 15.44%. Equities research analysts expect that Dolby Laboratories, Inc. will post 2.65 EPS for the current fiscal year.

Dolby Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 28th were issued a $0.30 dividend. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, November 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.42%. Dolby Laboratories’s payout ratio is presently 58.25%.

Dolby Laboratories Company Profile

(Free Report)

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.

See Also

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