Hsbc Holdings PLC Lowers Stake in Dolby Laboratories $DLB

Key Points

• Hsbc Holdings PLC has reduced its stake in Dolby Laboratories by 40.1%, selling 8,765 shares and owning 13,098 shares worth approximately $1,044,000.
• Wall Street analysts are optimistic about Dolby Laboratories, with a consensus rating of "Buy" and a target price averaging $103.00 per share.
• Dolby Laboratories recently posted better-than-expected earnings, reporting $0.78 per share for the last quarter, exceeding expectations by $0.06, and achieving a revenue of $315.55 million.

Hsbc Holdings PLC reduced its stake in Dolby Laboratories (NYSE:DLB - Free Report) by 40.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,098 shares of the electronics maker's stock after selling 8,765 shares during the quarter. Hsbc Holdings PLC's holdings in Dolby Laboratories were worth $1,044,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Dolby Laboratories in the 1st quarter worth $25,000. Cheviot Value Management LLC bought a new stake in Dolby Laboratories during the first quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Dolby Laboratories during the first quarter valued at about $29,000. Global X Japan Co. Ltd. bought a new stake in Dolby Laboratories during the first quarter valued at about $51,000. Finally, Fifth Third Bancorp raised its holdings in Dolby Laboratories by 84.7% during the first quarter. Fifth Third Bancorp now owns 665 shares of the electronics maker's stock valued at $53,000 after acquiring an additional 305 shares during the period. 58.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Tigress Financial raised their price target on Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a report on Friday, August 15th. Rosenblatt Securities reissued a "buy" rating and set a $95.00 price target on shares of Dolby Laboratories in a report on Friday, August 1st. Finally, Wall Street Zen raised Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Dolby Laboratories has an average rating of "Buy" and an average target price of $103.00.

Insider Activity

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 25,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $72.31, for a total value of $1,807,750.00. Following the sale, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $524,440.00. Following the completion of the transaction, the senior vice president owned 70,435 shares of the company's stock, valued at approximately $5,276,990.20. This trade represents a 9.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,049 shares of company stock valued at $11,045,581 over the last ninety days. 38.39% of the stock is currently owned by insiders.

Dolby Laboratories Stock Up 0.6%

DLB traded up $0.45 on Tuesday, hitting $72.13. The company had a trading volume of 650,169 shares, compared to its average volume of 434,034. The company has a market cap of $6.91 billion, a PE ratio of 26.42 and a beta of 0.93. Dolby Laboratories has a 12-month low of $68.24 and a 12-month high of $89.66. The business's fifty day simple moving average is $74.21 and its 200 day simple moving average is $76.08.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The electronics maker reported $0.78 earnings per share (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 the consensus estimate of $305.23 million. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. The firm's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $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, analysts anticipate that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

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

About Dolby Laboratories

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.