Mutual of America Capital Management LLC Cuts Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Mutual of America Capital Management LLC cut its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,726 shares of the electronics maker’s stock after selling 1,911 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Dolby Laboratories were worth $3,165,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP boosted its holdings in Dolby Laboratories by 248.2% during the second quarter. Quarry LP now owns 296 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 211 shares during the last quarter. Blue Trust Inc. boosted its holdings in Dolby Laboratories by 75.7% during the fourth quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 159 shares during the last quarter. VisionPoint Advisory Group LLC boosted its stake in Dolby Laboratories by 86.9% in the third quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 172 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Dolby Laboratories by 52.7% in the first quarter. Tower Research Capital LLC TRC now owns 400 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 138 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in Dolby Laboratories by 175.3% in the third quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 284 shares during the last quarter. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Down 0.8 %

DLB opened at $77.98 on Thursday. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 40.40 and a beta of 0.97. The company’s 50-day moving average price is $81.67 and its two-hundred day moving average price is $83.37. Dolby Laboratories, Inc. has a twelve month low of $75.87 and a twelve month high of $91.01.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.14. The company had revenue of $315.57 million for the quarter, compared to analysts’ expectations of $310.98 million. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. As a group, sell-side analysts anticipate that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Monday, February 12th. Dolby Laboratories’s payout ratio is currently 62.18%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DLB shares. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Rosenblatt Securities reiterated a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a research note on Wednesday, January 31st.

Insider Activity at Dolby Laboratories

In related news, SVP John D. Couling sold 33,560 shares of the company’s 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 sale, the senior vice president now directly owns 108,519 shares in the company, valued at approximately $8,769,420.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 39.54% of the stock is currently owned by corporate insiders.

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.