Bank of America Corp DE Sells 30,571 Shares of Dolby Laboratories $DLB

Key Points

• Bank of America reduced its Dolby Laboratories stake by 6.7%, selling 30,571 shares and retaining 426,024 shares worth approximately $25.6 million. Institutional investors collectively own 58.56% of the company.
• Dolby reported quarterly EPS of $0.69, slightly above estimates, while revenue of $305 million declined 3.3% year over year. Analysts’ average rating is “Hold,” with an average price target of $83.
• The company authorized a $350 million share-buyback program, covering up to 7% of outstanding shares, and declared a quarterly dividend of $0.36, equivalent to a 2.3% annualized yield.

Bank of America Corp DE decreased its stake in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 426,024 shares of the electronics maker's stock after selling 30,571 shares during the period. Bank of America Corp DE owned about 0.45% of Dolby Laboratories worth $25,587,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp lifted its position in shares of Dolby Laboratories by 34.7% during the 4th quarter. Fifth Third Bancorp now owns 746 shares of the electronics maker's stock worth $48,000 after buying an additional 192 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in Dolby Laboratories during the third quarter worth $56,000. iSAM Funds UK Ltd purchased a new position in Dolby Laboratories in the third quarter worth $68,000. Quarry LP boosted its position in Dolby Laboratories by 1,486.7% in the fourth quarter. Quarry LP now owns 1,190 shares of the electronics maker's stock worth $76,000 after purchasing an additional 1,115 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Dolby Laboratories by 48.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,232 shares of the electronics maker's stock worth $79,000 after purchasing an additional 402 shares during the last quarter. Institutional investors own 58.56% of the company's stock.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, CMO Todd Pendleton sold 11,876 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $54.55, for a total transaction of $647,835.80. Following the sale, the chief marketing officer owned 41,480 shares of the company's stock, valued at $2,262,734. The trade was a 22.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP John D. Couling sold 7,667 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $60.00, for a total value of $460,020.00. Following the completion of the transaction, the senior vice president directly owned 118,727 shares of the company's stock, valued at $7,123,620. The trade was a 6.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 36,581 shares of company stock worth $2,047,398. Corporate insiders own 37.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barrington Research reaffirmed an "outperform" rating and set a $90.00 target price on shares of Dolby Laboratories in a research report on Monday, June 15th. Wall Street Zen downgraded shares of Dolby Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Rosenblatt Securities restated a "buy" rating and set a $85.00 price target on shares of Dolby Laboratories in a research report on Friday, July 31st. Finally, Weiss Ratings downgraded shares of Dolby Laboratories from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $83.00.

Dolby Laboratories Trading Down 1.6%

Dolby Laboratories stock opened at $61.39 on Tuesday. The business's 50 day simple moving average is $53.67 and its 200 day simple moving average is $58.46. Dolby Laboratories has a 12 month low of $48.26 and a 12 month high of $75.66. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 26.12 and a beta of 0.80.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its earnings results on Thursday, July 30th. The electronics maker reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.02. The business had revenue of $305.00 million during the quarter, compared to the consensus estimate of $311.96 million. Dolby Laboratories had a return on equity of 11.08% and a net margin of 16.70%.The business's revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the business posted $0.78 earnings per share. Dolby Laboratories has set its FY 2026 guidance at 4.250-4.400 EPS and its Q4 2026 guidance at 1.130-1.280 EPS. As a group, equities research analysts forecast that Dolby Laboratories will post 3.26 earnings per share for the current fiscal year.

Dolby Laboratories declared that its board has authorized a share buyback plan on Thursday, July 30th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the electronics maker to buy up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Tuesday, August 11th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, August 11th. Dolby Laboratories's payout ratio is currently 61.28%.

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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