855,898 Shares in Dolby Laboratories $DLB Bought by Norges Bank

Key Points

• Norges Bank disclosed a new fourth-quarter position in Dolby Laboratories, buying 855,898 shares worth about $55 million and giving it roughly 0.90% ownership of the company.
• Dolby reported quarterly earnings that beat analyst estimates, with EPS of $1.37 versus $1.31 expected and revenue of $395.63 million, up 7% year over year.
• Analysts remain generally positive on DLB, with a Moderate Buy consensus and an average target price of about $90.75, while the stock recently traded near $53.70.

Norges Bank acquired a new position in shares of Dolby Laboratories (NYSE:DLB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 855,898 shares of the electronics maker's stock, valued at approximately $54,966,000. Norges Bank owned 0.90% of Dolby Laboratories as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Boothbay Fund Management LLC boosted its holdings in Dolby Laboratories by 4.1% in the 2nd quarter. Boothbay Fund Management LLC now owns 4,020 shares of the electronics maker's stock worth $299,000 after buying an additional 157 shares during the last quarter. Covestor Ltd raised its holdings in shares of Dolby Laboratories by 6.0% during the fourth quarter. Covestor Ltd now owns 3,088 shares of the electronics maker's stock valued at $198,000 after acquiring an additional 175 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Dolby Laboratories by 34.7% during the fourth quarter. Fifth Third Bancorp now owns 746 shares of the electronics maker's stock valued at $48,000 after acquiring an additional 192 shares during the last quarter. Gabelli Funds LLC raised its holdings in shares of Dolby Laboratories by 0.4% during the third quarter. Gabelli Funds LLC now owns 49,143 shares of the electronics maker's stock valued at $3,556,000 after acquiring an additional 202 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of Dolby Laboratories by 166.7% during the third quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker's stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DLB shares. Barrington Research reissued an "outperform" rating and set a $90.00 target price on shares of Dolby Laboratories in a report on Monday, April 27th. Weiss Ratings reissued a "hold (c-)" rating on shares of Dolby Laboratories in a research note on Friday, March 27th. Finally, Wall Street Zen raised shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Dolby Laboratories presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.75.

Dolby Laboratories Stock Down 0.1%

DLB opened at $53.70 on Monday. Dolby Laboratories has a 52 week low of $52.45 and a 52 week high of $77.00. The business has a fifty day simple moving average of $58.97 and a 200-day simple moving average of $62.62. The firm has a market cap of $5.08 billion, a P/E ratio of 21.23 and a beta of 0.81.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The electronics maker reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.06. Dolby Laboratories had a return on equity of 11.47% and a net margin of 17.85%.The firm had revenue of $395.63 million for the quarter, compared to the consensus estimate of $385.80 million. During the same quarter in the previous year, the business earned $1.34 EPS. The company's quarterly revenue was up 7.0% compared to the same quarter last year. Dolby Laboratories has set its FY 2026 guidance at 4.300-4.450 EPS and its Q3 2026 guidance at 0.560-0.710 EPS. Sell-side analysts expect that Dolby Laboratories will post 3.21 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Tuesday, May 12th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, May 12th. Dolby Laboratories's dividend payout ratio is currently 56.92%.

Insider Buying and Selling at Dolby Laboratories

In related news, CFO Robert J. Park sold 4,895 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.68, for a total transaction of $277,448.60. Following the sale, the chief financial officer directly owned 81,490 shares of the company's stock, valued at $4,618,853.20. This represents a 5.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John D. Couling sold 7,666 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $55.62, for a total transaction of $426,382.92. Following the sale, the senior vice president owned 118,727 shares in the company, valued at approximately $6,603,595.74. This trade represents a 6.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,791 shares of company stock worth $2,231,653 over the last ninety days. Company insiders own 37.93% of the company's stock.

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.

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