Telemus Capital LLC Buys 1,284 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Telemus Capital LLC increased its position in Dolby Laboratories, Inc. (NYSE:DLB) by 11.0% during the 4th quarter, Holdings Channel reports. The firm owned 12,934 shares of the electronics maker’s stock after acquiring an additional 1,284 shares during the quarter. Telemus Capital LLC’s holdings in Dolby Laboratories were worth $1,115,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DLB. Vanguard Group Inc. grew its position in shares of Dolby Laboratories by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,389,084 shares of the electronics maker’s stock worth $506,399,000 after buying an additional 205,319 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Dolby Laboratories by 4.8% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock valued at $415,808,000 after purchasing an additional 239,578 shares in the last quarter. Morgan Stanley lifted its position in shares of Dolby Laboratories by 11.9% in the 3rd quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock worth $388,556,000 after purchasing an additional 523,250 shares during the period. Ninety One UK Ltd boosted its stake in shares of Dolby Laboratories by 29.0% during the fourth quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock valued at $221,685,000 after purchasing an additional 578,239 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Dolby Laboratories by 12.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,884,088 shares of the electronics maker’s stock valued at $149,333,000 after acquiring an additional 209,369 shares during the period. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Performance

DLB stock traded up $1.03 on Monday, hitting $79.21. 64,075 shares of the company’s stock were exchanged, compared to its average volume of 367,698. The firm has a 50 day moving average price of $81.57 and a two-hundred day moving average price of $83.37. Dolby Laboratories, Inc. has a 12-month low of $75.87 and a 12-month high of $91.01. The stock has a market cap of $7.57 billion, a P/E ratio of 40.51 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. Dolby Laboratories’s dividend payout ratio is currently 62.18%.

Insider Transactions at Dolby Laboratories

In other news, SVP John D. Couling sold 33,560 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $80.81, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 39.54% of the company’s stock.

Analyst Upgrades and Downgrades

DLB has been the topic of a number of recent research reports. StockNews.com raised 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 price objective on shares of Dolby Laboratories in a research note on Wednesday, January 31st.

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.