JPMorgan Chase & Co. Grows Stock Position in Dolby Laboratories $DLB

JPMorgan Chase & Co. lifted its stake in Dolby Laboratories (NYSE:DLB) by 81.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 312,028 shares of the electronics maker’s stock after buying an additional 139,900 shares during the quarter. JPMorgan Chase & Co.’s holdings in Dolby Laboratories were worth $22,582,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DLB. First Horizon Corp purchased a new position in Dolby Laboratories during the third quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted its position in Dolby Laboratories by 166.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. Mather Group LLC. purchased a new stake in Dolby Laboratories in the 3rd quarter worth approximately $38,000. Rothschild Investment LLC grew its stake in shares of Dolby Laboratories by 4,046.7% during the 3rd quarter. Rothschild Investment LLC now owns 622 shares of the electronics maker’s stock worth $45,000 after purchasing an additional 607 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Dolby Laboratories during the 3rd quarter valued at approximately $50,000. 58.56% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, CAO Ryan Nicholson sold 2,667 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $66.38, for a total value of $177,035.46. Following the transaction, the chief accounting officer directly owned 36,956 shares of the company’s stock, valued at $2,453,139.28. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Shriram Revankar sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $66.14, for a total value of $198,420.00. Following the transaction, the senior vice president owned 83,218 shares in the company, valued at approximately $5,504,038.52. This represents a 3.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 37.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Dolby Laboratories Stock Performance

Shares of DLB opened at $58.89 on Wednesday. The stock has a 50 day moving average price of $63.60 and a 200 day moving average price of $66.28. Dolby Laboratories has a one year low of $58.39 and a one year high of $82.63. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 23.75 and a beta of 0.84.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Thursday, January 29th. The electronics maker reported $1.06 earnings per share for the quarter, beating 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 company had revenue of $346.71 million for the quarter, compared to analyst estimates of $341.26 million. During the same quarter last year, the firm posted $1.14 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts predict that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a yield of 2.4%. Dolby Laboratories’s payout ratio is presently 58.06%.

Dolby Laboratories Profile

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.