Charles Schwab Investment Management Inc. Buys 15,355 Shares of Dolby Laboratories $DLB

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Dolby Laboratories by 2.1%, holding approximately $60.87 million worth of shares after acquiring an additional 15,355 shares in the first quarter.
• Several institutional investors have raised their stakes in Dolby, with Bank of New York Mellon increasing its stake by 18.3% and owning shares worth $458.5 million.
• Dolby Laboratories reported $0.78 earnings per share for the last quarter, exceeding analyst expectations, and announced a quarterly dividend of $0.33 per share.

Charles Schwab Investment Management Inc. raised its position in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 757,994 shares of the electronics maker's stock after purchasing an additional 15,355 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.79% of Dolby Laboratories worth $60,874,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in Dolby Laboratories during the 1st quarter valued at $25,000. Cheviot Value Management LLC bought a new position in Dolby Laboratories during the 1st quarter valued at $27,000. Global X Japan Co. Ltd. bought a new position in Dolby Laboratories during the 1st quarter valued at $51,000. Fifth Third Bancorp boosted its stake in Dolby Laboratories by 84.7% during the 1st quarter. Fifth Third Bancorp now owns 665 shares of the electronics maker's stock valued at $53,000 after purchasing an additional 305 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Dolby Laboratories by 170.5% during the 1st quarter. UMB Bank n.a. now owns 698 shares of the electronics maker's stock valued at $56,000 after purchasing an additional 440 shares in the last quarter. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Stock Down 0.5%

Shares of Dolby Laboratories stock traded down $0.3670 during midday trading on Wednesday, hitting $73.4330. The company's stock had a trading volume of 511,476 shares, compared to its average volume of 390,984. The firm has a market capitalization of $7.04 billion, a P/E ratio of 26.90 and a beta of 0.91. The stock has a 50-day simple moving average of $74.34 and a 200-day simple moving average of $76.80. Dolby Laboratories has a 1-year low of $68.24 and a 1-year high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its earnings results on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $315.55 million during the quarter, compared to analysts' expectations of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.Dolby Laboratories's revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. 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, sell-side analysts predict that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Tuesday, August 12th will be issued 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 is Tuesday, August 12th. Dolby Laboratories's dividend payout ratio (DPR) is currently 48.35%.

Insider Buying and Selling at Dolby Laboratories

In related news, EVP Mark Andrew Sherman sold 15,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $75.02, for a total transaction of $1,125,300.00. Following the completion of the sale, the executive vice president directly owned 62,397 shares in the company, valued at approximately $4,681,022.94. This trade represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin J. Yeaman sold 25,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $72.31, for a total value of $1,807,750.00. Following the sale, the chief executive officer owned 114,725 shares of the company's stock, valued at approximately $8,295,764.75. This represents a 17.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,049 shares of company stock valued at $10,521,141. 38.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DLB shares. Rosenblatt Securities reissued a "buy" rating and set a $95.00 price objective on shares of Dolby Laboratories in a research note on Friday, August 1st. Tigress Financial raised their price objective on Dolby Laboratories from $112.00 to $114.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Wall Street Zen lowered Dolby Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Barrington Research reissued an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $103.00.

Dolby Laboratories Company 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.