Bank of New York Mellon Corp Takes Position in Dolby Laboratories $DLB

Bank of New York Mellon Corp bought a new position in shares of Dolby Laboratories (NYSE:DLB - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 4,817,216 shares of the electronics maker's stock, valued at approximately $253,289,000. Bank of New York Mellon Corp owned approximately 5.09% of Dolby Laboratories as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position 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 valued at $167,906,000 after buying an additional 180,072 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Dolby Laboratories by 19.9% during the first quarter. First Trust Advisors LP now owns 2,254,933 shares of the electronics maker's stock worth $135,431,000 after buying an additional 374,405 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Dolby Laboratories by 15.6% in the fourth quarter. Geode Capital Management LLC now owns 1,885,246 shares of the electronics maker's stock valued at $122,749,000 after acquiring an additional 254,250 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of 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 valued at $128,935,000 after acquiring an additional 592,282 shares during the last quarter. Finally, Snyder Capital Management L P boosted its holdings in shares of Dolby Laboratories by 24.4% in the 4th quarter. Snyder Capital Management L P now owns 1,427,093 shares of the electronics maker's stock worth $91,648,000 after acquiring an additional 279,743 shares in the last quarter. 58.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DLB shares. Wall Street Zen lowered Dolby Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings downgraded Dolby Laboratories from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, August 13th. Barrington Research restated an "outperform" rating and set a $90.00 target price on shares of Dolby Laboratories in a report on Monday, June 15th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $85.00 target price on shares of Dolby Laboratories in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $83.00.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, SVP Shriram Revankar sold 3,000 shares of Dolby Laboratories stock in a transaction on Friday, August 14th. The shares were sold at an average price of $62.71, for a total transaction of $188,130.00. Following the completion of the sale, the senior vice president owned 73,274 shares of the company's stock, valued at approximately $4,595,012.54. The trade was a 3.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John D. Couling sold 7,667 shares of the stock in a transaction on Monday, August 3rd. The shares were 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 in the company, valued at approximately $7,123,620. This trade represents a 6.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 27,705 shares of company stock worth $1,587,692 in the last quarter. 37.93% of the stock is owned by company insiders.

Dolby Laboratories Stock Up 1.5%

Shares of DLB opened at $65.16 on Friday. Dolby Laboratories has a 12-month low of $48.26 and a 12-month high of $75.66. The firm has a market capitalization of $6.10 billion, a PE ratio of 27.73 and a beta of 0.80. The stock's fifty day simple moving average is $54.48 and its 200-day simple moving average is $58.50.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The electronics maker reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.02. The firm had revenue of $305.00 million during the quarter, compared to analyst estimates of $311.96 million. Dolby Laboratories had a return on equity of 11.08% and a net margin of 16.70%.The company's revenue was down 3.3% on a year-over-year basis. During the same period last year, the company earned $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. Analysts anticipate that Dolby Laboratories will post 3.26 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Tuesday, August 11th were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, August 11th. This represents a $1.44 annualized dividend and a dividend yield of 2.2%. Dolby Laboratories's payout ratio is currently 61.28%.

Dolby Laboratories declared that its board has initiated a stock buyback program on Thursday, July 30th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the electronics maker to purchase up to 7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Dolby Laboratories Company 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.

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