Dolby Laboratories $DLB Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Dolby Laboratories by 15%, owning approximately 0.70% of the company with shares worth around $53.76 million.
• Dolby Laboratories reported earnings of $0.78 per share for the last quarter, surpassing estimates and showing a 9.2% revenue increase compared to the previous year.
• The company recently announced a quarterly dividend of $0.33 per share, resulting in an annualized yield of 1.8%.

Northern Trust Corp grew its stake in Dolby Laboratories (NYSE:DLB - Free Report) by 15.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 669,406 shares of the electronics maker's stock after purchasing an additional 87,402 shares during the period. Northern Trust Corp owned approximately 0.70% of Dolby Laboratories worth $53,760,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of DLB. Alpine Bank Wealth Management acquired a new position in shares of Dolby Laboratories in the first quarter valued at approximately $25,000. Cheviot Value Management LLC acquired a new position in shares of Dolby Laboratories in the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Dolby Laboratories in the first quarter valued at approximately $29,000. Global X Japan Co. Ltd. acquired a new position in shares of Dolby Laboratories in the first quarter valued at approximately $51,000. Finally, Fifth Third Bancorp increased its holdings in shares of Dolby Laboratories by 84.7% in the first quarter. Fifth Third Bancorp now owns 665 shares of the electronics maker's stock valued at $53,000 after purchasing an additional 305 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.

Wall Street Analysts Forecast Growth

DLB has been the topic of a number of recent research reports. Rosenblatt Securities reissued a "buy" rating and issued a $95.00 target price on shares of Dolby Laboratories in a report on Friday, August 1st. Tigress Financial boosted their target price on Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a report on Friday, August 15th. Finally, Wall Street Zen upgraded Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Dolby Laboratories presently has a consensus rating of "Buy" and a consensus price target of $103.00.

Dolby Laboratories Stock Performance

Dolby Laboratories stock traded down $0.46 during trading on Monday, hitting $71.68. The company's stock had a trading volume of 400,469 shares, compared to its average volume of 452,630. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 26.26 and a beta of 0.93. The stock's fifty day moving average is $74.21 and its 200 day moving average is $76.08. 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 released its earnings results on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. The firm had revenue of $315.55 million during the quarter, compared to analyst estimates of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.The business's quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior 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. On average, research analysts anticipate that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

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

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 39,875 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $74.82, for a total transaction of $2,983,447.50. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Shriram Revankar sold 7,000 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.92, for a total value of $524,440.00. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,049 shares of company stock worth $11,045,581. 38.39% of the stock is currently owned by insiders.

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.