Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC trimmed its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 32.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 84,433 shares of the electronics maker’s stock after selling 41,379 shares during the period. Acadian Asset Management LLC owned about 0.08% of Dolby Laboratories worth $5,596,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Nachman Norwood & Parrott Inc purchased a new stake in shares of Dolby Laboratories in the 3rd quarter valued at approximately $28,000. Pflug Koory LLC purchased a new stake in shares of Dolby Laboratories in the 2nd quarter valued at approximately $33,000. CI Investments Inc. purchased a new stake in shares of Dolby Laboratories in the 3rd quarter valued at approximately $36,000. Prospera Financial Services Inc purchased a new stake in shares of Dolby Laboratories in the 3rd quarter valued at approximately $52,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Dolby Laboratories in the 3rd quarter valued at approximately $92,000. 56.47% of the stock is currently owned by institutional investors and hedge funds.

In other Dolby Laboratories news, SVP Giles Baker sold 8,334 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $70.28, for a total transaction of $585,713.52. Also, SVP Steven E. Forshay sold 22,698 shares of the business’s stock in a transaction that occurred on Wednesday, November 18th. The stock was sold at an average price of $89.15, for a total transaction of $2,023,526.70. The disclosure for this sale can be found here. Insiders have sold a total of 276,638 shares of company stock valued at $23,151,873 in the last quarter. 38.17% of the stock is currently owned by company insiders.

Shares of DLB opened at $87.80 on Friday. Dolby Laboratories, Inc. has a fifty-two week low of $44.68 and a fifty-two week high of $90.09. The firm’s 50 day moving average price is $75.18 and its 200 day moving average price is $67.67. The company has a market cap of $8.83 billion, a P/E ratio of 39.02, a PEG ratio of 2.75 and a beta of 0.81.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, November 12th. The electronics maker reported $0.45 EPS for the quarter, topping the consensus estimate of $0.20 by $0.25. Dolby Laboratories had a net margin of 19.91% and a return on equity of 9.95%. The company had revenue of $271.20 million during the quarter, compared to analysts’ expectations of $245.04 million. During the same quarter in the previous year, the business posted $0.66 EPS. The firm’s revenue was down 9.3% on a year-over-year basis. As a group, research analysts predict that Dolby Laboratories, Inc. will post 2.3 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 24th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.00%. The ex-dividend date is Monday, November 23rd. Dolby Laboratories’s dividend payout ratio (DPR) is presently 38.26%.

A number of equities research analysts have recently issued reports on the stock. B. Riley boosted their price target on shares of Dolby Laboratories from $73.00 to $79.00 and gave the company a “neutral” rating in a research note on Friday, November 13th. Barrington Research upped their target price on shares of Dolby Laboratories from $70.00 to $83.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Finally, Zacks Investment Research raised shares of Dolby Laboratories from a “sell” rating to a “hold” rating and set a $73.00 target price on the stock in a research note on Friday, August 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $75.00.

Dolby Laboratories Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. 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 media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and a range of media devices.

Further Reading: How is net asset value different from market price?

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Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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