Algert Global adds Dolby Laboratories (DLB) to its portfolio

Dolby Laboratories (DLB) : Algert Global added new position in Dolby Laboratories during the most recent quarter end. The investment management firm now holds 53,290 shares of Dolby Laboratories which is valued at $2,845,686 , the company said in a statement filed on Oct 12, 2016 with the SEC.Dolby Laboratories makes up approximately 0.83% of Algert Global’s portfolio.

Other Hedge Funds, Including , Creative Planning reduced its stake in DLB by selling 139 shares or 13.21% in the most recent quarter. The Hedge Fund company now holds 913 shares of DLB which is valued at $48,754.Advisory Services Network reduced its stake in DLB by selling 33 shares or 56.9% in the most recent quarter. The Hedge Fund company now holds 25 shares of DLB which is valued at $1,361.Bnp Paribas Arbitrage Sa boosted its stake in DLB in the latest quarter, The investment management firm added 766 additional shares and now holds a total of 3,667 shares of Dolby Laboratories which is valued at $199,118.

Dolby Laboratories closed down -1.1 points or -2.02% at $53.4 with 2,90,164 shares getting traded on Tuesday. Post opening the session at $54.48, the shares hit an intraday low of $53.3 and an intraday high of $54.4999 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Dolby Laboratories reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.66. The company had revenue of $277.60 million for the quarter, compared to analysts expectations of $268.04 million. The company’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Dolby Laboratories. Dolby Laboratories was Resumed by JP Morgan to “Neutral” on Oct 4, 2016. Company shares were Reiterated by Dougherty & Company on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 57 from a previous price target of $54 .

Dolby Laboratories Inc. (Dolby Laboratories) creates audio imaging and communication technologies that transform entertainment and communications at the cinema at home at work and on mobile devices. The Company licenses its audio technologies and also develops technologies aimed at enhancing voice conferencing communications and imaging. Additionally the Company provides products and services that enable entertainment content creators and distributors to produce encode transmit and playback content for consumer experiences. The Company designs and manufactures audio and imaging products for the film production cinema and television broadcast industries. Distributed in approximately 80 countries these products are used in content creation distribution and playback to enhance image and sound quality and improve transmission and playback.

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