Kayne Anderson Rudnick Investment Management LLC Increases Holdings in Dolby Laboratories $DLB

Key Points

• Kayne Anderson Rudnick Investment Management increased its holdings in Dolby Laboratories by 2.8%, now owning 153,999 shares valued at approximately $12.37 million as of the latest SEC filing.
• Insiders, including EVP Mark Andrew Sherman and CEO Kevin J. Yeaman, have sold significant shares recently, indicating a decrease in their ownership stakes by 19.38% and 17.89%, respectively.
• Dolby Laboratories reported a quarterly EPS of $0.78, surpassing analysts' expectations, and announced a quarterly dividend of $0.33 per share, resulting in a 1.8% dividend yield.

Kayne Anderson Rudnick Investment Management LLC raised its holdings in Dolby Laboratories (NYSE:DLB - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 153,999 shares of the electronics maker's stock after buying an additional 4,256 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 0.16% of Dolby Laboratories worth $12,368,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in Dolby Laboratories in the first quarter valued at approximately $25,000. Cheviot Value Management LLC acquired a new position in Dolby Laboratories in the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in Dolby Laboratories in the first quarter valued at approximately $29,000. Global X Japan Co. Ltd. acquired a new position in Dolby Laboratories in the first quarter valued at approximately $51,000. Finally, Fifth Third Bancorp lifted its stake in 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 buying an additional 305 shares during the period. 58.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, SVP Shriram Revankar sold 7,000 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $74.92, for a total transaction of $524,440.00. Following the transaction, the senior vice president directly owned 70,435 shares in the company, valued at approximately $5,276,990.20. This trade represents a 9.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Andrew Sherman sold 15,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $75.02, for a total value of $1,125,300.00. Following the sale, the executive vice president directly owned 62,397 shares of the company's stock, valued at approximately $4,681,022.94. This represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,049 shares of company stock worth $11,045,581. Corporate insiders own 38.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barrington Research reissued an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Friday, May 2nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $95.00 target price on shares of Dolby Laboratories in a research report on Friday, August 1st. Wall Street Zen raised Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Tigress Financial upped their target price on Dolby Laboratories from $112.00 to $114.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $103.00.

Dolby Laboratories Stock Down 0.6%

NYSE:DLB traded down $0.46 during trading hours on Friday, hitting $71.68. 400,469 shares of the company traded hands, compared to its average volume of 473,551. The firm's 50-day simple moving average is $74.24 and its 200-day simple moving average is $76.27. Dolby Laboratories has a one year low of $68.24 and a one year high of $89.66. The company has a market cap of $6.87 billion, a PE ratio of 26.26 and a beta of 0.91.

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

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 12th. This represents a $1.32 annualized dividend and a yield of 1.8%. Dolby Laboratories's dividend payout ratio (DPR) is 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.