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 shares of Dolby Laboratories (NYSE:DLB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 210,313 shares of the electronics maker's stock, valued at approximately $16,890,000. Nuveen LLC owned 0.22% of Dolby Laboratories at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in Dolby Laboratories during the first quarter worth $25,000. Cheviot Value Management LLC acquired a new stake in Dolby Laboratories during the first quarter worth $27,000. Global X Japan Co. Ltd. acquired a new stake in Dolby Laboratories during the first quarter worth $51,000. Fifth Third Bancorp boosted its stake in Dolby Laboratories by 84.7% during the first quarter. Fifth Third Bancorp now owns 665 shares of the electronics maker's stock worth $53,000 after buying an additional 305 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Dolby Laboratories by 170.5% during the first quarter. UMB Bank n.a. now owns 698 shares of the electronics maker's stock worth $56,000 after buying an additional 440 shares in the last quarter. Institutional investors own 58.56% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, SVP Shriram Revankar sold 7,000 shares of the business'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 sale, the senior vice president directly owned 70,435 shares of the company's stock, valued at approximately $5,276,990.20. The trade was a 9.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 15,000 shares of the business's 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 sale, the executive vice president directly owned 62,397 shares of the company's stock, valued at $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. Insiders sold 148,049 shares of company stock valued at $11,045,581 over the last ninety days. 38.39% of the stock is owned by insiders.

Dolby Laboratories Stock Performance

Shares of NYSE DLB traded down $1.06 during midday trading on Tuesday, reaching $73.11. 985,628 shares of the company traded hands, compared to its average volume of 426,751. The stock's 50-day simple moving average is $74.28 and its 200-day simple moving average is $76.46. Dolby Laboratories has a 12 month low of $68.24 and a 12 month high of $89.66. The firm has a market cap of $7.01 billion, a PE ratio of 26.78 and a beta of 0.91.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $305.23 million. During the same period in the previous year, the business posted $0.71 earnings per share. The firm's revenue for the quarter was up 9.2% compared to the same quarter last year. 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, equities research analysts expect that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Announces Dividend

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

Dolby Laboratories 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.