Baillie Gifford & Co. Reduces Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Baillie Gifford & Co. lowered its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 462,473 shares of the electronics maker’s stock after selling 13,079 shares during the quarter. Baillie Gifford & Co. owned 0.48% of Dolby Laboratories worth $38,741,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DLB. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Dolby Laboratories in the third quarter valued at about $1,610,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Dolby Laboratories in the fourth quarter worth about $2,229,000. Everpar Advisors LLC purchased a new stake in shares of Dolby Laboratories in the fourth quarter worth about $965,000. Pacer Advisors Inc. boosted its stake in shares of Dolby Laboratories by 115.5% in the fourth quarter. Pacer Advisors Inc. now owns 16,418 shares of the electronics maker’s stock worth $1,415,000 after buying an additional 8,798 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Dolby Laboratories by 11.9% in the third quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock worth $388,556,000 after buying an additional 523,250 shares during the last quarter. 58.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $79.62, for a total transaction of $181,772.46. Following the completion of the sale, the executive vice president now owns 58,325 shares of the company’s stock, valued at $4,643,836.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 39.54% of the stock is owned by insiders.

Dolby Laboratories Price Performance

Shares of NYSE:DLB traded down $0.17 during midday trading on Friday, hitting $79.83. The company had a trading volume of 262,517 shares, compared to its average volume of 359,857. Dolby Laboratories, Inc. has a twelve month low of $75.87 and a twelve month high of $91.01. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 40.72 and a beta of 0.99. The business’s 50-day simple moving average is $80.28 and its 200-day simple moving average is $81.79.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, May 2nd. The electronics maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. Dolby Laboratories had a return on equity of 10.15% and a net margin of 15.00%. The firm had revenue of $364.52 million during the quarter, compared to analysts’ expectations of $361.98 million. As a group, sell-side analysts forecast that Dolby Laboratories, Inc. will post 2.68 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, May 13th. This represents a $1.20 annualized dividend and a yield of 1.50%. Dolby Laboratories’s dividend payout ratio (DPR) is 61.22%.

Wall Street Analyst Weigh In

DLB has been the topic of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 price target on shares of Dolby Laboratories in a research report on Friday, June 7th. StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th. Finally, Barrington Research upgraded Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Monday, June 3rd.

About Dolby Laboratories

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.