Dolby Laboratories, Inc. (NYSE:DLB) Position Cut by Fiera Capital Corp

Fiera Capital Corp cut its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 551,095 shares of the electronics maker's stock after selling 17,232 shares during the quarter. Fiera Capital Corp owned about 0.58% of Dolby Laboratories worth $42,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Dolby Laboratories by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker's stock worth $544,711,000 after buying an additional 107,713 shares in the last quarter. Ninety One UK Ltd boosted its position in shares of Dolby Laboratories by 2.6% in the 2nd quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker's stock worth $185,791,000 after buying an additional 60,114 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of Dolby Laboratories by 0.8% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,402,623 shares of the electronics maker's stock worth $111,130,000 after buying an additional 10,852 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of Dolby Laboratories by 185.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker's stock worth $82,276,000 after buying an additional 698,283 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Dolby Laboratories by 3.5% in the 2nd quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker's stock worth $80,041,000 after buying an additional 33,848 shares in the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 28,512 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the completion of the sale, the chief executive officer now owns 83,721 shares of the company's stock, valued at approximately $6,205,400.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 39.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on DLB shares. StockNews.com upgraded shares of Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a research report on Friday. Barrington Research reiterated an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, September 20th.

Dolby Laboratories Stock Performance

DLB traded down $0.71 on Friday, reaching $75.15. 264,772 shares of the company's stock were exchanged, compared to its average volume of 249,223. The company's 50 day moving average is $73.26 and its 200-day moving average is $76.37. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 34.32 and a beta of 0.98. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $90.06.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.14. The firm had revenue of $288.82 million during the quarter, compared to the consensus estimate of $286.26 million. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. Sell-side analysts forecast that Dolby Laboratories, Inc. will post 2.71 EPS for the current year.

Dolby Laboratories declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 7th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

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.