Signet Financial Management LLC Lowers Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Signet Financial Management LLC reduced its position in Dolby Laboratories, Inc. (NYSE:DLB) by 11.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,556 shares of the electronics maker’s stock after selling 579 shares during the quarter. Signet Financial Management LLC’s holdings in Dolby Laboratories were worth $393,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Dolby Laboratories by 5.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,048 shares of the electronics maker’s stock valued at $521,000 after acquiring an additional 308 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Dolby Laboratories in the fourth quarter valued at approximately $1,439,000. AlphaQ Advisors LLC bought a new position in shares of Dolby Laboratories in the fourth quarter valued at approximately $291,000. NewEdge Wealth LLC lifted its position in Dolby Laboratories by 3.5% during the fourth quarter. NewEdge Wealth LLC now owns 38,398 shares of the electronics maker’s stock valued at $3,309,000 after purchasing an additional 1,316 shares during the last quarter. Finally, Sapient Capital LLC bought a new stake in Dolby Laboratories during the fourth quarter valued at approximately $644,000. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Stock Performance

DLB stock opened at $78.63 on Wednesday. The company has a market capitalization of $7.52 billion, a PE ratio of 40.74 and a beta of 0.97. Dolby Laboratories, Inc. has a one year low of $75.87 and a one year high of $91.01. The company’s 50 day moving average price is $81.69 and its two-hundred day moving average price is $83.41.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, topping the consensus estimate of $0.62 by $0.14. The firm had revenue of $315.57 million for the quarter, compared to the consensus estimate of $310.98 million. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. On average, research analysts predict that Dolby Laboratories, Inc. will post 2.63 EPS for the current year.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, February 12th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 62.18%.

Insiders Place Their Bets

In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of Dolby Laboratories stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the transaction, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at $8,769,420.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 39.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DLB. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 target price on shares of Dolby Laboratories in a research report on Wednesday, January 31st.

About Dolby Laboratories

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.