Janney Montgomery Scott LLC decreased its stake in Dolby Laboratories (NYSE:DLB) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,934 shares of the electronics maker’s stock after selling 1,878 shares during the period. Janney Montgomery Scott LLC’s holdings in Dolby Laboratories were worth $1,377,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DLB. Alps Advisors Inc. raised its stake in shares of Dolby Laboratories by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,461 shares of the electronics maker’s stock valued at $463,000 after acquiring an additional 24 shares during the last quarter. US Bancorp DE raised its stake in shares of Dolby Laboratories by 2.6% during the second quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock valued at $149,000 after acquiring an additional 78 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Dolby Laboratories by 1.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,769 shares of the electronics maker’s stock valued at $380,000 after acquiring an additional 94 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Dolby Laboratories by 1.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 10,226 shares of the electronics maker’s stock valued at $501,000 after acquiring an additional 114 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Dolby Laboratories by 1.1% during the second quarter. Legal & General Group Plc now owns 18,586 shares of the electronics maker’s stock valued at $910,000 after acquiring an additional 199 shares during the last quarter. 52.53% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories (NYSE DLB) opened at $62.57 on Thursday. Dolby Laboratories has a 52 week low of $44.98 and a 52 week high of $63.34. The firm has a market cap of $6,386.86, a price-to-earnings ratio of 30.02, a P/E/G ratio of 2.32 and a beta of 0.86.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.18. Dolby Laboratories had a net margin of 18.66% and a return on equity of 10.62%. The business had revenue of $242.05 million during the quarter, compared to the consensus estimate of $244.80 million. During the same quarter last year, the firm earned $0.37 earnings per share. Dolby Laboratories’s quarterly revenue was up 3.9% on a year-over-year basis. equities analysts anticipate that Dolby Laboratories will post 2.24 earnings per share for the current fiscal year.

Several research firms have recently issued reports on DLB. B. Riley set a $66.00 price target on shares of Dolby Laboratories and gave the company a “buy” rating in a research note on Thursday, October 19th. Dougherty & Co reaffirmed a “buy” rating and set a $63.00 price target on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Zacks Investment Research downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $52.00 target price (up previously from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Dolby Laboratories currently has an average rating of “Hold” and a consensus target price of $60.17.

In other Dolby Laboratories news, SVP Steven E. Forshay sold 9,355 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $57.86, for a total value of $541,280.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Bob Borchers sold 116,821 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $61.15, for a total transaction of $7,143,604.15. The disclosure for this sale can be found here. Insiders have sold 544,409 shares of company stock valued at $33,369,495 in the last three months. 43.80% of the stock is owned by insiders.

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

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