Vanguard Group Inc. Has $561.37 Million Stock Position in Dolby Laboratories $DLB

Vanguard Group Inc. grew its stake in shares of Dolby Laboratories (NYSE:DLB) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,756,924 shares of the electronics maker’s stock after acquiring an additional 203,411 shares during the period. Vanguard Group Inc. owned 0.08% of Dolby Laboratories worth $561,369,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada lifted its position in shares of Dolby Laboratories by 3.5% in the first quarter. Royal Bank of Canada now owns 68,367 shares of the electronics maker’s stock worth $5,491,000 after buying an additional 2,298 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Dolby Laboratories by 218.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 249,574 shares of the electronics maker’s stock valued at $20,043,000 after acquiring an additional 171,288 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Dolby Laboratories by 5.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,216 shares of the electronics maker’s stock worth $19,131,000 after purchasing an additional 12,598 shares during the last quarter. Focus Partners Wealth bought a new stake in Dolby Laboratories during the first quarter worth approximately $390,000. Finally, Asset Management One Co. Ltd. acquired a new position in Dolby Laboratories during the second quarter valued at approximately $571,000. 58.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 34,367 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $67.08, for a total transaction of $2,305,338.36. Following the completion of the transaction, the chief executive officer owned 98,377 shares in the company, valued at approximately $6,599,129.16. This represents a 25.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Shriram Revankar sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $66.14, for a total value of $198,420.00. Following the completion of the sale, the senior vice president owned 83,218 shares in the company, valued at approximately $5,504,038.52. This trade represents a 3.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 96,924 shares of company stock valued at $6,500,521. 37.93% of the stock is owned by corporate insiders.

Dolby Laboratories Stock Performance

Shares of DLB opened at $63.97 on Wednesday. Dolby Laboratories has a 52-week low of $60.14 and a 52-week high of $84.15. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 25.79 and a beta of 0.86. The stock has a fifty day moving average price of $64.39 and a two-hundred day moving average price of $67.66.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Thursday, January 29th. The electronics maker reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Dolby Laboratories had a return on equity of 11.50% and a net margin of 17.97%.The firm had revenue of $346.71 million during the quarter, compared to analyst estimates of $341.26 million. During the same period last year, the company earned $1.14 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. As a group, research analysts predict that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a yield of 2.3%. Dolby Laboratories’s payout ratio is presently 58.06%.

Analyst Ratings Changes

A number of research analysts have weighed in on DLB shares. Wall Street Zen lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a report on Friday, January 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Dolby Laboratories in a research note on Monday, December 29th. Finally, Barrington Research cut their target price on Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.75.

About Dolby Laboratories

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.