Dolby Laboratories, Inc. (NYSE:DLB) Shares Purchased by Cardinal Capital Management

Cardinal Capital Management boosted its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 13.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,180 shares of the electronics maker’s stock after purchasing an additional 4,612 shares during the quarter. Cardinal Capital Management’s holdings in Dolby Laboratories were worth $3,075,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. First Affirmative Financial Network boosted its position in shares of Dolby Laboratories by 4.9% in the 2nd quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker’s stock worth $219,000 after buying an additional 129 shares in the last quarter. LRI Investments LLC lifted its holdings in shares of Dolby Laboratories by 6.0% in the second quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock valued at $182,000 after purchasing an additional 130 shares in the last quarter. Signaturefd LLC grew its position in shares of Dolby Laboratories by 5.1% in the second quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock valued at $251,000 after purchasing an additional 153 shares during the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake in shares of Dolby Laboratories by 1.3% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock worth $1,095,000 after purchasing an additional 174 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Dolby Laboratories by 64.6% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Insider Buying and Selling

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of Dolby Laboratories stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total value of $2,113,309.44. Following the completion of the sale, the chief executive officer now owns 83,721 shares in the company, valued at $6,205,400.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 39.54% of the stock is currently owned by company insiders.

Dolby Laboratories Trading Up 0.1 %

Shares of DLB stock opened at $74.07 on Friday. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 37.79 and a beta of 0.97. The firm has a 50-day moving average price of $72.33 and a 200 day moving average price of $77.16. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $90.06.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.14. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. The business had revenue of $288.82 million during the quarter, compared to analyst estimates of $286.26 million. As a group, research analysts predict that Dolby Laboratories, Inc. will post 2.72 earnings per share for the current year.

Dolby Laboratories declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 7th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the electronics maker to buy up to 5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were paid a $0.30 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.20 annualized dividend and a yield of 1.62%. Dolby Laboratories’s payout ratio is currently 61.22%.

Analyst Ratings Changes

Separately, Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a report on Friday, September 20th.

Dolby Laboratories Company 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.