Boston Partners Sells 11,489 Shares of Dolby Laboratories, Inc. (DLB)
Boston Partners reduced its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 15.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 62,666 shares of the electronics maker’s stock after selling 11,489 shares during the quarter. Boston Partners owned approximately 0.06% of Dolby Laboratories worth $3,866,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in DLB. Allianz Asset Management GmbH raised its holdings in Dolby Laboratories by 107.3% in the 1st quarter. Allianz Asset Management GmbH now owns 1,167,119 shares of the electronics maker’s stock worth $74,182,000 after purchasing an additional 604,109 shares during the period. Summit Trail Advisors LLC raised its holdings in Dolby Laboratories by 4,489.0% in the 1st quarter. Summit Trail Advisors LLC now owns 518,562 shares of the electronics maker’s stock worth $519,000 after purchasing an additional 507,262 shares during the period. Bank of Montreal Can raised its holdings in Dolby Laboratories by 1,613.7% in the 2nd quarter. Bank of Montreal Can now owns 283,406 shares of the electronics maker’s stock worth $17,483,000 after purchasing an additional 266,868 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Dolby Laboratories in the 1st quarter worth $16,138,000. Finally, Columbus Circle Investors bought a new position in Dolby Laboratories in the 1st quarter worth $12,295,000. 53.86% of the stock is currently owned by institutional investors.
NYSE:DLB opened at $69.02 on Monday. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 2.32 and a beta of 0.80. Dolby Laboratories, Inc. has a 52 week low of $48.00 and a 52 week high of $74.29.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Monday, August 6th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 0.93%. Dolby Laboratories’s dividend payout ratio is presently 29.09%.
A number of equities analysts recently commented on DLB shares. Barrington Research reaffirmed a “buy” rating and issued a $78.00 target price on shares of Dolby Laboratories in a report on Tuesday, May 1st. Zacks Investment Research cut Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Friday, April 27th. ValuEngine cut Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Finally, B. Riley raised their target price on Dolby Laboratories from $61.00 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $67.50.
In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $65.31, for a total transaction of $6,531,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Lewis Chew sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $65.47, for a total value of $1,112,990.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,381,797 shares of company stock worth $87,092,317. Insiders own 43.74% of the company’s stock.
Dolby Laboratories Company 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, including Dolby Digital Plus for digital television, mobile, and Internet-based services; Dolby Digital, a digital audio coding technology that provides multichannel sound in the home; and AAC & HE-AAC, an audio coding technologies used to broadcast, download, and streaming content.
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