Dolby Laboratories $DLB Shares Bought by M&T Bank Corp

M&T Bank Corp lifted its holdings in Dolby Laboratories (NYSE:DLB) by 625.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 103,278 shares of the electronics maker’s stock after purchasing an additional 89,036 shares during the period. M&T Bank Corp’s holdings in Dolby Laboratories were worth $6,633,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Dolby Laboratories by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,756,924 shares of the electronics maker’s stock valued at $561,369,000 after buying an additional 203,411 shares during the last quarter. State Street Corp lifted its holdings in Dolby Laboratories by 8.7% in the second quarter. State Street Corp now owns 2,261,059 shares of the electronics maker’s stock worth $167,906,000 after acquiring an additional 180,072 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Dolby Laboratories by 51.8% in the second quarter. AQR Capital Management LLC now owns 1,736,260 shares of the electronics maker’s stock worth $128,935,000 after acquiring an additional 592,282 shares during the last quarter. First Trust Advisors LP boosted its stake in Dolby Laboratories by 22.7% in the third quarter. First Trust Advisors LP now owns 1,518,657 shares of the electronics maker’s stock valued at $109,905,000 after acquiring an additional 281,214 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Dolby Laboratories by 8.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,149,927 shares of the electronics maker’s stock valued at $83,220,000 after acquiring an additional 87,202 shares during the period. 58.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on DLB. Wall Street Zen lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a 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 research report on Friday, January 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Dolby Laboratories in a research note on Friday, March 27th. Finally, Barrington Research dropped their target price on Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, January 26th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.75.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, CAO Ryan Nicholson sold 2,667 shares of the business’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $66.38, for a total transaction of $177,035.46. Following the completion of the transaction, the chief accounting officer owned 36,956 shares in the company, valued at approximately $2,453,139.28. The trade was a 6.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Shriram Revankar sold 3,000 shares of the stock in a transaction 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 completion of the transaction, the senior vice president directly owned 83,218 shares of the company’s stock, valued at approximately $5,504,038.52. The trade was a 3.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 37.93% of the stock is owned by company insiders.

Dolby Laboratories Stock Up 1.8%

Dolby Laboratories stock opened at $64.08 on Friday. The firm has a 50-day moving average price of $62.67 and a two-hundred day moving average price of $64.69. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 25.84 and a beta of 0.86. Dolby Laboratories has a 52-week low of $57.62 and a 52-week high of $78.28.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. The company had revenue of $346.71 million for the quarter, compared to analyst estimates of $341.26 million. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. Dolby Laboratories’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 earnings per share. Research analysts expect that Dolby Laboratories will post 3.18 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, February 10th. Dolby Laboratories’s dividend payout ratio (DPR) is currently 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.