Dolby Laboratories (DLB) Holdings Increased by Willis Investment Counsel
Willis Investment Counsel boosted its position in Dolby Laboratories (NYSE:DLB) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,240 shares of the electronics maker’s stock after purchasing an additional 980 shares during the quarter. Willis Investment Counsel owned about 0.21% of Dolby Laboratories worth $10,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Watermark Asset Management Inc. purchased a new stake in Dolby Laboratories in the 1st quarter worth approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Dolby Laboratories by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock worth $114,000 after purchasing an additional 209 shares in the last quarter. US Bancorp DE increased its holdings in shares of Dolby Laboratories by 4.8% in the 1st quarter. US Bancorp DE now owns 2,951 shares of the electronics maker’s stock worth $155,000 after buying an additional 135 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Dolby Laboratories by 4.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,637 shares of the electronics maker’s stock worth $227,000 after buying an additional 205 shares during the last quarter. Finally, Airain ltd bought a new position in shares of Dolby Laboratories in the 1st quarter worth $257,000. Institutional investors and hedge funds own 51.87% of the company’s stock.
A number of equities analysts have recently commented on DLB shares. BidaskClub lowered shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research lowered shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, B. Riley raised shares of Dolby Laboratories from a “neutral” rating to a “buy” rating and increased their price target for the stock from $57.00 to $61.50 in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.30.
Shares of Dolby Laboratories (NYSE DLB) traded up 0.595% during trading on Friday, hitting $58.285. 66,821 shares of the stock were exchanged. The stock has a market cap of $5.98 billion, a PE ratio of 29.813 and a beta of 0.81. Dolby Laboratories has a 52-week low of $44.99 and a 52-week high of $59.79. The firm has a 50 day moving average of $51.48 and a 200-day moving average of $51.27.
Dolby Laboratories (NYSE:DLB) last released its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 EPS for the quarter, topping the consensus estimate of $0.65 by $0.10. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.25%. The firm had revenue of $305.67 million for the quarter, compared to the consensus estimate of $296.88 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities research analysts anticipate that Dolby Laboratories will post $1.99 earnings per share for the current fiscal year.
In other news, insider Kevin J. Yeaman sold 45,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $56.46, for a total value of $2,540,700.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Dagmar Dolby sold 100,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $52.22, for a total transaction of $5,222,000.00. The disclosure for this sale can be found here. Insiders sold 1,419,000 shares of company stock worth $71,701,100 in the last three months. Insiders own 43.80% of the company’s stock.
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About Dolby Laboratories
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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