Nuveen LLC Makes New Investment in Dolby Laboratories $DLB

Key Points

• Nuveen LLC has acquired a new stake in Dolby Laboratories, purchasing 210,313 shares valued at approximately $16.89 million, representing 0.22% ownership of the company.
• Dolby Laboratories reported earnings per share of $0.78 for the last quarter, exceeding analysts' expectations, and indicated revenue growth of 9.2% year-over-year.
• The company recently announced a quarterly dividend of $0.33 per share, yielding 1.8%, with a payout ratio of 48.35% based on its earnings.

Nuveen LLC bought a new position in Dolby Laboratories (NYSE:DLB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 210,313 shares of the electronics maker's stock, valued at approximately $16,890,000. Nuveen LLC owned about 0.22% of Dolby Laboratories as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Dolby Laboratories by 114.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,141 shares of the electronics maker's stock worth $975,000 after purchasing an additional 6,484 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in Dolby Laboratories in the first quarter worth $222,000. Fiera Capital Corp lifted its stake in Dolby Laboratories by 19.0% in the first quarter. Fiera Capital Corp now owns 639,404 shares of the electronics maker's stock worth $51,351,000 after acquiring an additional 102,028 shares during the period. Vanguard Group Inc. lifted its stake 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 worth $605,194,000 after acquiring an additional 502,110 shares during the period. Finally, Vise Technologies Inc. purchased a new stake in Dolby Laboratories in the fourth quarter worth $308,000. Institutional investors own 58.56% of the company's stock.

Dolby Laboratories Trading Up 3.8%

Dolby Laboratories stock traded up $2.7490 on Friday, hitting $75.5890. 569,556 shares of the stock traded hands, compared to its average volume of 410,055. The firm has a market cap of $7.24 billion, a P/E ratio of 27.69 and a beta of 0.91. The business's fifty day simple moving average is $74.32 and its 200 day simple moving average is $76.61. 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 announced its quarterly earnings data 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 business 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 company's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last 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. As a group, analysts predict that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders 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 annualized dividend and a yield of 1.7%. Dolby Laboratories's dividend payout ratio (DPR) is currently 48.35%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Friday, May 2nd. Wall Street Zen lowered Dolby Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $95.00 price target on shares of Dolby Laboratories in a research note on Friday, August 1st. Finally, Tigress Financial raised their price target on Dolby Laboratories from $112.00 to $114.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Dolby Laboratories currently has a consensus rating of "Buy" and an average price target of $103.00.

Insider Activity

In other news, EVP Mark Andrew Sherman sold 15,000 shares of Dolby Laboratories stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $75.02, for a total value of $1,125,300.00. Following the completion of the transaction, the executive vice president owned 62,397 shares of the company's stock, valued at $4,681,022.94. The trade was a 19.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin J. Yeaman sold 39,875 shares of Dolby Laboratories stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $74.82, for a total value of $2,983,447.50. Following the completion of the transaction, the chief executive officer directly owned 114,725 shares of the company's stock, valued at approximately $8,583,724.50. This represents a 25.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,049 shares of company stock valued at $10,521,141. 38.39% of the stock is owned by insiders.

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.