Leuthold Group LLC Sells 262 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Leuthold Group LLC lowered its position in Dolby Laboratories, Inc. (NYSE:DLB) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,508 shares of the electronics maker’s stock after selling 262 shares during the quarter. Leuthold Group LLC’s holdings in Dolby Laboratories were worth $3,812,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in Dolby Laboratories by 75.7% during the fourth quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock worth $29,000 after buying an additional 159 shares during the period. VisionPoint Advisory Group LLC lifted its holdings in Dolby Laboratories by 86.9% during the third quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after buying an additional 172 shares during the period. Mather Group LLC. purchased a new stake in shares of Dolby Laboratories during the 1st quarter valued at $33,000. Quarry LP purchased a new stake in shares of Dolby Laboratories during the 4th quarter valued at $37,000. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Dolby Laboratories by 1,631.0% during the 1st quarter. Sunbelt Securities Inc. now owns 502 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 473 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling

In other news, EVP Mark Andrew Sherman sold 2,283 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $79.62, for a total transaction of $181,772.46. Following the completion of the transaction, the executive vice president now directly owns 58,325 shares in the company, valued at $4,643,836.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. 39.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DLB shares. StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, May 11th. Barrington Research raised Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Monday, June 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a report on Friday, June 7th.

Dolby Laboratories Price Performance

NYSE DLB traded up $0.52 during trading hours on Friday, reaching $80.14. The company’s stock had a trading volume of 131,553 shares, compared to its average volume of 370,969. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 40.74 and a beta of 0.99. Dolby Laboratories, Inc. has a 1-year low of $75.87 and a 1-year high of $91.01. The company’s 50-day moving average is $80.33 and its two-hundred day moving average is $81.62.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Thursday, May 2nd. The electronics maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Dolby Laboratories had a return on equity of 10.15% and a net margin of 15.00%. The business had revenue of $364.52 million during the quarter, compared to analysts’ expectations of $361.98 million. Equities analysts forecast that Dolby Laboratories, Inc. will post 2.68 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

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

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.