Equitable Trust Co. Invests $460,000 in Dolby Laboratories, Inc. (NYSE:DLB)

Equitable Trust Co. purchased a new stake in Dolby Laboratories, Inc. (NYSE:DLB) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 6,009 shares of the electronics maker’s stock, valued at approximately $460,000.

Several other institutional investors also recently bought and sold shares of DLB. Blue Trust Inc. raised its holdings in shares of Dolby Laboratories by 398.8% during the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 331 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Dolby Laboratories in the 2nd quarter valued at $37,000. GAMMA Investing LLC raised its stake in Dolby Laboratories by 64.6% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 192 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Dolby Laboratories by 192.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock valued at $46,000 after purchasing an additional 379 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in Dolby Laboratories by 693.3% during the 1st quarter. Headlands Technologies LLC now owns 595 shares of the electronics maker’s stock worth $50,000 after purchasing an additional 520 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DLB has been the topic of several research reports. Barrington Research reissued an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Friday, September 20th. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Friday.

Insider Transactions at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at approximately $6,205,400.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 39.54% of the company’s stock.

Dolby Laboratories Stock Down 0.9 %

DLB stock opened at $75.15 on Monday. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $90.06. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 34.32 and a beta of 0.98. The business has a fifty day moving average of $73.26 and a two-hundred day moving average of $76.33.

Dolby Laboratories announced that its board has initiated a share repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $350.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.