Exchange Traded Concepts LLC Acquires 1,957 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Exchange Traded Concepts LLC raised its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 12.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 17,506 shares of the electronics maker’s stock after acquiring an additional 1,957 shares during the period. Exchange Traded Concepts LLC’s holdings in Dolby Laboratories were worth $1,340,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DLB. PNC Financial Services Group Inc. lifted its position in Dolby Laboratories by 2.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,677 shares of the electronics maker’s stock valued at $1,179,000 after purchasing an additional 379 shares during the period. Quadrature Capital Ltd bought a new position in shares of Dolby Laboratories during the 4th quarter valued at $719,000. NBC Securities Inc. lifted its holdings in shares of Dolby Laboratories by 33.0% during the 1st quarter. NBC Securities Inc. now owns 2,460 shares of the electronics maker’s stock valued at $216,000 after buying an additional 611 shares during the period. Mather Group LLC. purchased a new position in shares of Dolby Laboratories in the 1st quarter worth $33,000. Finally, MJP Associates Inc. ADV grew its holdings in shares of Dolby Laboratories by 27.2% in the first quarter. MJP Associates Inc. ADV now owns 3,436 shares of the electronics maker’s stock worth $288,000 after acquiring an additional 735 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, September 20th.

Dolby Laboratories Trading Up 0.7 %

DLB opened at $74.02 on Thursday. The firm’s 50 day simple moving average is $72.20 and its two-hundred day simple moving average is $77.18. The company has a market capitalization of $7.09 billion, a PE ratio of 37.77 and a beta of 0.97. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $90.06.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.14. The company had revenue of $288.82 million for the quarter, compared to analysts’ expectations of $286.26 million. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. Equities analysts forecast that Dolby Laboratories, Inc. will post 2.72 earnings per share for the current fiscal year.

Dolby Laboratories announced that its board has approved a share repurchase program on Wednesday, August 7th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Dolby Laboratories Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.62%. Dolby Laboratories’s payout ratio is currently 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.