Benjamin F. Edwards & Company Inc. Sells 553 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Benjamin F. Edwards & Company Inc. cut its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 40.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 803 shares of the electronics maker’s stock after selling 553 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Dolby Laboratories were worth $64,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in DLB. Bank of New York Mellon Corp lifted its holdings in Dolby Laboratories by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 2,324,244 shares of the electronics maker’s stock worth $194,702,000 after purchasing an additional 233,958 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Dolby Laboratories by 39.8% in the 2nd quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock worth $51,698,000 after purchasing an additional 185,884 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Dolby Laboratories by 27.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after purchasing an additional 168,744 shares in the last quarter. Vanguard Group Inc. increased its stake in Dolby Laboratories by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock worth $544,711,000 after acquiring an additional 107,713 shares during the last quarter. Finally, Ninety One UK Ltd increased its stake in Dolby Laboratories by 2.6% in the 2nd quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker’s stock worth $185,791,000 after acquiring an additional 60,114 shares during the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on DLB. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, September 20th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Dolby Laboratories in a research note on Friday, June 7th.

Dolby Laboratories Price Performance

NYSE:DLB opened at $75.59 on Friday. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $90.06. The stock’s 50 day simple moving average is $72.80 and its two-hundred day simple moving average is $78.03. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 38.57 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.14. The firm had revenue of $288.82 million for the quarter, compared to the consensus estimate of $286.26 million. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. As a group, analysts anticipate that Dolby Laboratories, Inc. will post 2.72 EPS for the current year.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Monday, August 19th. Dolby Laboratories’s dividend payout ratio is currently 61.22%.

Dolby Laboratories declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 7th that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.