Ninety One UK Ltd Has $31.35 Million Stock Position in Dolby Laboratories $DLB

Key Points

• Ninety One UK Ltd reduced its stake in Dolby Laboratories by 9.3% during Q2, owning 422,205 shares valued at $31.35 million as of the latest SEC filing.
• Vanguard Group and other institutional investors have increased their holdings in Dolby Laboratories, with Vanguard adding 502,110 shares during the first quarter.
• Dolby Laboratories reported $0.78 earnings per share for the last quarter, exceeding expectations and showing a 9.2% year-over-year revenue growth to $315.55 million.

Ninety One UK Ltd lowered its position in Dolby Laboratories (NYSE:DLB - Free Report) by 9.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 422,205 shares of the electronics maker's stock after selling 43,543 shares during the period. Ninety One UK Ltd owned 0.44% of Dolby Laboratories worth $31,353,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DLB. Vanguard Group Inc. lifted its holdings in Dolby Laboratories by 7.1% in the first quarter. Vanguard Group Inc. now owns 7,535,722 shares of the electronics maker's stock valued at $605,194,000 after buying an additional 502,110 shares during the period. Bank of New York Mellon Corp lifted its holdings in Dolby Laboratories by 18.3% in the first quarter. Bank of New York Mellon Corp now owns 5,709,193 shares of the electronics maker's stock valued at $458,505,000 after buying an additional 882,716 shares during the period. Mackenzie Financial Corp lifted its holdings in Dolby Laboratories by 17.9% in the first quarter. Mackenzie Financial Corp now owns 1,147,800 shares of the electronics maker's stock valued at $92,180,000 after buying an additional 174,373 shares during the period. AQR Capital Management LLC lifted its stake in shares of Dolby Laboratories by 63.6% in the 1st quarter. AQR Capital Management LLC now owns 1,143,978 shares of the electronics maker's stock valued at $90,946,000 after purchasing an additional 444,718 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of Dolby Laboratories by 0.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,140,821 shares of the electronics maker's stock valued at $91,602,000 after purchasing an additional 6,953 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.

Dolby Laboratories Trading Down 0.1%

DLB opened at $72.34 on Wednesday. The company's fifty day moving average price is $72.93 and its two-hundred day moving average price is $74.68. Dolby Laboratories has a 1-year low of $68.24 and a 1-year high of $89.66. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 26.50 and a beta of 0.93.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. The firm had revenue of $315.55 million for the quarter, compared to the consensus estimate of $305.23 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. 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 analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DLB. Barrington Research reissued an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, September 12th. Tigress Financial boosted their price target on Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Robert W. Baird initiated coverage on shares of Dolby Laboratories in a research report on Friday, September 5th. They set a "neutral" rating and a $74.00 target price on the stock. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $95.00 target price on shares of Dolby Laboratories in a research report on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Dolby Laboratories presently has an average rating of "Moderate Buy" and an average target price of $95.75.

Insider Activity at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 25,000 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $71.66, for a total value of $1,791,500.00. Following the completion of the sale, the chief executive officer directly owned 114,725 shares of the company's stock, valued at approximately $8,221,193.50. This represents a 17.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Shriram Revankar sold 7,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $74.92, for a total value of $524,440.00. Following the completion of the sale, the senior vice president directly owned 70,435 shares of the company's stock, valued at $5,276,990.20. The trade was a 9.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,366 shares of company stock valued at $7,293,963. Company insiders own 38.39% of the company's stock.

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.

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