Mutual of America Capital Management LLC Lowers Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Mutual of America Capital Management LLC lowered its position in Dolby Laboratories, Inc. (NYSE:DLB) by 3.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 35,448 shares of the electronics maker’s stock after selling 1,278 shares during the period. Mutual of America Capital Management LLC’s holdings in Dolby Laboratories were worth $2,969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. NEOS Investment Management LLC raised its holdings in shares of Dolby Laboratories by 5.0% in the fourth quarter. NEOS Investment Management LLC now owns 2,709 shares of the electronics maker’s stock valued at $233,000 after purchasing an additional 129 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in Dolby Laboratories by 1.4% during the fourth quarter. Bleakley Financial Group LLC now owns 9,444 shares of the electronics maker’s stock worth $814,000 after buying an additional 134 shares during the last quarter. Whittier Trust Co. increased its holdings in Dolby Laboratories by 5.1% during the fourth quarter. Whittier Trust Co. now owns 3,223 shares of the electronics maker’s stock worth $278,000 after buying an additional 156 shares during the last quarter. Blue Trust Inc. increased 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 last quarter. Finally, Linden Thomas Advisory Services LLC increased its holdings in Dolby Laboratories by 1.9% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 8,799 shares of the electronics maker’s stock worth $758,000 after buying an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Stock Up 0.2 %

Shares of NYSE:DLB opened at $79.78 on Friday. The firm has a market capitalization of $7.65 billion, a PE ratio of 40.70 and a beta of 0.99. Dolby Laboratories, Inc. has a twelve month low of $75.87 and a twelve month high of $91.01. The company has a 50-day moving average price of $80.28 and a two-hundred day moving average price of $81.58.

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

Dolby Laboratories Dividend Announcement

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

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of the stock in a transaction dated Tuesday, May 28th. The shares were 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 owns 58,325 shares in the company, valued at $4,643,836.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 39.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DLB. Barrington Research upgraded shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a report on Monday, June 3rd. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, May 11th. Finally, Rosenblatt Securities restated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a report on Friday, June 7th.

Dolby Laboratories 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.