Dolby Laboratories $DLB Shares Bought by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Dolby Laboratories by 63.6% in the 1st quarter, acquiring an additional 444,718 shares for a total of approximately $90.95 million.
• Several brokerages upgraded Dolby's rating to buy, with an average price target of $103.00, signaling positive sentiment among analysts in the market.
• Dolby Laboratories reported strong quarterly earnings, with a 9.2% revenue increase year-over-year and an EPS of $0.78, exceeding analysts' expectations.

AQR Capital Management LLC boosted its holdings in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 63.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,143,978 shares of the electronics maker's stock after acquiring an additional 444,718 shares during the period. AQR Capital Management LLC owned about 1.20% of Dolby Laboratories worth $90,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in shares of Dolby Laboratories during the first quarter valued at about $25,000. Cheviot Value Management LLC purchased a new stake in shares of Dolby Laboratories during the first quarter valued at about $27,000. MAI Capital Management lifted its position in shares of Dolby Laboratories by 87.1% during the first quarter. MAI Capital Management now owns 348 shares of the electronics maker's stock valued at $28,000 after buying an additional 162 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Dolby Laboratories during the first quarter valued at about $29,000. Finally, Global X Japan Co. Ltd. purchased a new stake in Dolby Laboratories during the 1st quarter worth approximately $51,000. 58.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Shriram Revankar sold 7,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $74.92, for a total transaction of $524,440.00. Following the transaction, the senior vice president owned 70,435 shares of the company's stock, valued at $5,276,990.20. This represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kevin J. Yeaman sold 39,875 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $74.82, for a total value of $2,983,447.50. Following the transaction, the chief executive officer directly owned 114,725 shares in the company, valued at $8,583,724.50. This represents a 25.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,366 shares of company stock worth $7,352,963 in the last ninety days. 38.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Tigress Financial raised their price objective on shares of Dolby Laboratories from $112.00 to $114.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Robert W. Baird initiated coverage on shares of Dolby Laboratories in a research report on Friday, September 5th. They issued a "neutral" rating and a $74.00 target price on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $95.00 target price on shares of Dolby Laboratories in a research report on Friday, August 1st. Finally, Baird R W raised shares of Dolby Laboratories to a "hold" rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $95.75.

Dolby Laboratories Stock Down 1.3%

DLB traded down $0.93 on Wednesday, reaching $71.36. The company's stock had a trading volume of 67,987 shares, compared to its average volume of 431,089. The stock has a 50 day moving average of $73.98 and a two-hundred day moving average of $75.69. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 26.15 and a beta of 0.93. Dolby Laboratories has a fifty-two week low of $68.24 and a fifty-two week high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.06. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.The company had revenue of $315.55 million during the quarter, compared to analysts' expectations of $305.23 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. Dolby Laboratories has set its FY 2025 guidance at 3.880-4.030 EPS. Q4 2025 guidance at 0.610-0.760 EPS. As a group, analysts anticipate that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, August 12th. Dolby Laboratories's dividend payout ratio is 48.35%.

Dolby Laboratories Profile

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.