Zeke Capital Advisors LLC Grows Position in Dolby Laboratories, Inc. (NYSE:DLB)

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Zeke Capital Advisors LLC lifted its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 17.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,480 shares of the electronics maker’s stock after buying an additional 1,728 shares during the quarter. Zeke Capital Advisors LLC’s holdings in Dolby Laboratories were worth $742,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Berkshire Asset Management LLC PA raised its stake in shares of Dolby Laboratories by 6.5% in the second quarter. Berkshire Asset Management LLC PA now owns 3,566 shares of the electronics maker’s stock valued at $230,000 after acquiring an additional 218 shares during the period. Parallel Advisors LLC raised its stake in shares of Dolby Laboratories by 20.5% in the second quarter. Parallel Advisors LLC now owns 1,300 shares of the electronics maker’s stock valued at $84,000 after acquiring an additional 221 shares during the period. Signaturefd LLC raised its stake in shares of Dolby Laboratories by 17.4% in the second quarter. Signaturefd LLC now owns 1,812 shares of the electronics maker’s stock valued at $117,000 after acquiring an additional 269 shares during the period. Vestmark Advisory Solutions Inc. raised its stake in shares of Dolby Laboratories by 3.8% in the second quarter. Vestmark Advisory Solutions Inc. now owns 8,219 shares of the electronics maker’s stock valued at $531,000 after acquiring an additional 299 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of Dolby Laboratories by 8.8% in the second quarter. Commonwealth Equity Services LLC now owns 3,732 shares of the electronics maker’s stock valued at $241,000 after acquiring an additional 301 shares during the period. 57.25% of the stock is currently owned by hedge funds and other institutional investors.

NYSE DLB opened at $64.45 on Tuesday. The company’s 50-day moving average price is $63.15 and its 200-day moving average price is $63.31. The stock has a market cap of $6.51 billion, a PE ratio of 26.85, a PEG ratio of 1.73 and a beta of 0.84. Dolby Laboratories, Inc. has a 12 month low of $56.09 and a 12 month high of $71.77.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, August 1st. The electronics maker reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.11). The company had revenue of $302.16 million during the quarter, compared to the consensus estimate of $305.29 million. Dolby Laboratories had a return on equity of 9.00% and a net margin of 21.64%. The company’s revenue for the quarter was up 40.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 earnings per share. Research analysts forecast that Dolby Laboratories, Inc. will post 2.16 earnings per share for the current year.

In other Dolby Laboratories news, Director Ed H. Bowman, Jr. sold 2,492 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $84.52, for a total transaction of $210,623.84. Following the transaction, the director now directly owns 16,386 shares in the company, valued at approximately $1,384,944.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Ryan Nicholson sold 8,197 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $61.04, for a total transaction of $500,344.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 390,178 shares of company stock worth $25,056,143. Company insiders own 40.23% of the company’s stock.

DLB has been the topic of several recent analyst reports. William Blair reissued a “buy” rating on shares of Dolby Laboratories in a research note on Friday, August 2nd. ValuEngine raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Tigress Financial reissued a “buy” rating on shares of Dolby Laboratories in a research note on Wednesday, September 18th. Finally, B. Riley reissued a “neutral” rating and issued a $73.00 target price (up previously from $67.00) on shares of Dolby Laboratories in a research note on Friday, August 2nd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $78.00.

Dolby Laboratories Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

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

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