Henderson Group PLC acquired a new stake in shares of Dolby Laboratories Inc. (NYSE:DLB) during the second quarter, Holdings Channel reports. The firm acquired 197,980 shares of the company’s stock, valued at approximately $9,475,000.
A number of other large investors have also recently bought and sold shares of DLB. BNP Paribas Arbitrage SA raised its stake in Dolby Laboratories by 13.9% in the second quarter. BNP Paribas Arbitrage SA now owns 2,901 shares of the company’s stock valued at $139,000 after buying an additional 353 shares during the period. Berkshire Asset Management LLC PA purchased a new stake in Dolby Laboratories during the second quarter valued at approximately $213,000. IBM Retirement Fund raised its stake in Dolby Laboratories by 1.5% in the second quarter. IBM Retirement Fund now owns 5,122 shares of the company’s stock valued at $245,000 after buying an additional 76 shares during the period. BB&T Securities LLC raised its stake in Dolby Laboratories by 0.6% in the first quarter. BB&T Securities LLC now owns 6,979 shares of the company’s stock valued at $303,000 after buying an additional 44 shares during the period. Finally, M&T Bank Corp raised its stake in Dolby Laboratories by 26.0% in the first quarter. M&T Bank Corp now owns 8,982 shares of the company’s stock valued at $391,000 after buying an additional 1,854 shares during the period. Hedge funds and other institutional investors own 49.39% of the company’s stock.
Dolby Laboratories Inc. (NYSE:DLB) traded up 0.45% on Monday, reaching $51.42. 882,037 shares of the company traded hands. The stock’s 50-day moving average is $51.85 and its 200-day moving average is $48.17. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 25.08 and a beta of 0.57. Dolby Laboratories Inc. has a 1-year low of $30.38 and a 1-year high of $55.02.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.51 by $0.25. Dolby Laboratories had a net margin of 20.19% and a return on equity of 10.19%. The business had revenue of $277.60 million for the quarter, compared to analyst estimates of $268.04 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Dolby Laboratories’s quarterly revenue was up 19.8% on a year-over-year basis. Equities research analysts expect that Dolby Laboratories Inc. will post $1.79 EPS for the current year.
DLB has been the subject of several analyst reports. Dougherty & Co increased their price objective on shares of Dolby Laboratories from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. B. Riley set a $50.00 price target on shares of Dolby Laboratories and gave the stock a “hold” rating in a research note on Thursday, July 28th. Zacks Investment Research lowered shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Finally, JPMorgan Chase & Co. started coverage on shares of Dolby Laboratories in a research note on Tuesday, October 4th. They set a “neutral” rating and a $51.00 price target for the company. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Dolby Laboratories currently has a consensus rating of “Hold” and a consensus target price of $50.80.
In other news, major shareholder Dagmar Dolby sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $50.04, for a total value of $5,004,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael Bergeron sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $49.10, for a total transaction of $2,455,000.00. The disclosure for this sale can be found here. Corporate insiders own 45.16% of the company’s stock.
About Dolby Laboratories
Dolby Laboratories, Inc creates audio, imaging and communication technologies that transform entertainment and communications at the cinema, home, work and on mobile devices. The Company offers digital signal processing and compression technologies. Its technologies enable the development of the audio technologies for the cinema, home entertainment, mobile and gaming experiences.
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