Nomura Holdings Inc. acquired a new stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,918 shares of the electronics maker's stock, valued at approximately $618,000.
A number of other institutional investors also recently added to or reduced their stakes in DLB. Bank of New York Mellon Corp boosted its holdings in Dolby Laboratories by 64.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock valued at $376,948,000 after purchasing an additional 1,887,518 shares in the last quarter. Norges Bank acquired a new stake in shares of Dolby Laboratories during the 4th quarter valued at approximately $55,356,000. Alyeska Investment Group L.P. acquired a new stake in shares of Dolby Laboratories during the 4th quarter valued at approximately $27,314,000. Frontier Capital Management Co. LLC acquired a new stake in shares of Dolby Laboratories during the 4th quarter valued at approximately $24,323,000. Finally, Oberweis Asset Management Inc. acquired a new stake in shares of Dolby Laboratories during the 4th quarter valued at approximately $14,136,000. Hedge funds and other institutional investors own 58.56% of the company's stock.
Dolby Laboratories Stock Down 1.1%
Shares of Dolby Laboratories stock traded down $0.83 during trading on Friday, hitting $74.74. 324,323 shares of the company were exchanged, compared to its average volume of 450,831. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 27.48 and a beta of 0.95. The firm has a 50 day moving average price of $76.01 and a 200 day moving average price of $78.56.
Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.05. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The firm had revenue of $369.56 million during the quarter, compared to the consensus estimate of $375.44 million. During the same period in the previous year, the firm posted $1.27 EPS. The company's quarterly revenue was up 1.4% compared to the same quarter last year. Analysts predict that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current year.
Dolby Laboratories Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, May 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.77%. Dolby Laboratories's dividend payout ratio is currently 49.81%.
Analyst Upgrades and Downgrades
DLB has been the subject of a number of research reports. Tigress Financial initiated coverage on shares of Dolby Laboratories in a research report on Thursday, May 15th. They set a "buy" rating and a $112.00 price target for the company. Rosenblatt Securities reduced their price target on shares of Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wall Street Zen downgraded shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st. Finally, Barrington Research reiterated an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Friday, May 2nd.
Get Our Latest Stock Report on DLB
Insider Buying and Selling
In other Dolby Laboratories news, SVP John D. Couling sold 675 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $75.04, for a total value of $50,652.00. Following the completion of the transaction, the senior vice president now directly owns 121,151 shares in the company, valued at approximately $9,091,171.04. The trade was a 0.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 38.39% of the company's stock.
About Dolby Laboratories
(
Free Report)
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.
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