Assetmark Inc. Has $909,000 Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Assetmark Inc. lifted its stake in shares of Dolby Laboratories, Inc. (NYSE:DLBFree Report) by 37.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,545 shares of the electronics maker’s stock after purchasing an additional 2,855 shares during the quarter. Assetmark Inc.’s holdings in Dolby Laboratories were worth $909,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ninety One UK Ltd boosted its stake in Dolby Laboratories by 29.0% in the fourth quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock valued at $221,685,000 after buying an additional 578,239 shares in the last quarter. Morgan Stanley raised its position in Dolby Laboratories by 11.9% in the third quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock valued at $388,556,000 after purchasing an additional 523,250 shares during the last quarter. Norges Bank bought a new position in Dolby Laboratories in the fourth quarter valued at about $42,067,000. Kayne Anderson Rudnick Investment Management LLC raised its position in Dolby Laboratories by 4.8% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock valued at $415,808,000 after purchasing an additional 239,578 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Dolby Laboratories by 4,883.3% in the third quarter. Principal Financial Group Inc. now owns 219,665 shares of the electronics maker’s stock valued at $17,411,000 after purchasing an additional 215,257 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DLB shares. StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a research note on Monday, April 29th.

Check Out Our Latest Research Report on DLB

Dolby Laboratories Trading Down 0.4 %

DLB opened at $79.71 on Tuesday. The stock has a 50-day moving average price of $81.51 and a 200-day moving average price of $83.27. Dolby Laboratories, Inc. has a 12-month low of $75.87 and a 12-month high of $91.01. The stock has a market capitalization of $7.64 billion, a P/E ratio of 40.67 and a beta of 0.98.

Dolby Laboratories (NYSE:DLBGet Free Report) last issued its earnings results on Thursday, May 2nd. The electronics maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. The company had revenue of $364.52 million during the quarter, compared to analysts’ expectations of $361.98 million. Dolby Laboratories had a return on equity of 10.15% and a net margin of 15.00%. On average, equities research analysts predict that Dolby Laboratories, Inc. will post 2.68 EPS for the current year.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.51%. The ex-dividend date was Monday, May 13th. Dolby Laboratories’s dividend payout ratio is presently 61.22%.

Dolby Laboratories Company Profile

(Free Report)

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.

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

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