Dolby Laboratories $DLB Shares Sold by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System cut its Dolby Laboratories stake by 12.6% in the first quarter, selling 20,574 shares and leaving it with 143,043 shares worth about $8.6 million.
• Dolby reported better-than-expected quarterly results, posting EPS of $1.37 on revenue of $395.6 million, while also guiding FY 2026 EPS to $4.30-$4.45.
• The company recently paid a $0.36 quarterly dividend and analysts remain mostly positive, with a consensus rating of Moderate Buy and an average price target of $90.75.

California Public Employees Retirement System decreased its position in Dolby Laboratories (NYSE:DLB - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,043 shares of the electronics maker's stock after selling 20,574 shares during the quarter. California Public Employees Retirement System owned about 0.15% of Dolby Laboratories worth $8,591,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Royal Bank of Canada raised its position in Dolby Laboratories by 3.5% in the first quarter. Royal Bank of Canada now owns 68,367 shares of the electronics maker's stock worth $5,491,000 after acquiring an additional 2,298 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Dolby Laboratories by 218.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 249,574 shares of the electronics maker's stock valued at $20,043,000 after acquiring an additional 171,288 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Dolby Laboratories by 5.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,216 shares of the electronics maker's stock valued at $19,131,000 after acquiring an additional 12,598 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Dolby Laboratories during the 1st quarter valued at about $390,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Dolby Laboratories by 273.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,598 shares of the electronics maker's stock valued at $193,000 after purchasing an additional 1,902 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Insider Activity

In other Dolby Laboratories news, SVP Shriram Revankar sold 3,000 shares of Dolby Laboratories stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $54.90, for a total transaction of $164,700.00. Following the transaction, the senior vice president directly owned 80,603 shares in the company, valued at approximately $4,425,104.70. The trade was a 3.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert J. Park sold 4,895 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.68, for a total transaction of $277,448.60. Following the sale, the chief financial officer directly owned 81,490 shares in the company, valued at approximately $4,618,853.20. This trade represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 47,458 shares of company stock valued at $2,639,537. 37.93% of the stock is currently owned by insiders.

Dolby Laboratories Stock Up 1.3%

Shares of NYSE DLB opened at $49.80 on Friday. Dolby Laboratories has a 12 month low of $48.26 and a 12 month high of $76.70. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 19.68 and a beta of 0.81. The business has a fifty day simple moving average of $52.36 and a 200-day simple moving average of $58.96.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The electronics maker reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.06. The firm had revenue of $395.63 million for the quarter, compared to analysts' expectations of $385.80 million. Dolby Laboratories had a return on equity of 11.47% and a net margin of 17.85%.Dolby Laboratories's revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. Dolby Laboratories has set its FY 2026 guidance at 4.300-4.450 EPS and its Q3 2026 guidance at 0.560-0.710 EPS. As a group, sell-side analysts expect that Dolby Laboratories will post 3.21 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Tuesday, May 12th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, May 12th. Dolby Laboratories's dividend payout ratio (DPR) is 56.92%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DLB shares. Barrington Research reaffirmed an "outperform" rating and issued a $90.00 price objective on shares of Dolby Laboratories in a research note on Monday, June 15th. Weiss Ratings reissued a "hold (c-)" rating on shares of Dolby Laboratories in a research note on Wednesday, June 24th. Rosenblatt Securities restated a "buy" rating and set a $85.00 target price on shares of Dolby Laboratories in a report on Thursday, June 11th. Finally, Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Dolby Laboratories has an average rating of "Moderate Buy" and a consensus price target of $90.75.

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.

Want to see what other hedge funds are holding DLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dolby Laboratories (NYSE:DLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.