OMERS ADMINISTRATION Corp Buys New Shares in Dolby Laboratories $DLB

Key Points

• OMERS ADMINISTRATION Corp acquired a new stake in Dolby Laboratories, purchasing 11,600 shares valued at approximately $932,000 in the 1st quarter.
• The electronics maker recently reported earnings of $0.78 per share, exceeding analysts' estimates, with a revenue of $315.55 million for the quarter.
• Dolby Laboratories has declared a quarterly dividend of $0.33 per share, reflecting an annualized yield of 1.8%.

OMERS ADMINISTRATION Corp acquired a new stake in Dolby Laboratories (NYSE:DLB - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 11,600 shares of the electronics maker's stock, valued at approximately $932,000.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Dolby Laboratories by 7.1% in the 1st 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 last quarter. Bank of New York Mellon Corp boosted its position in Dolby Laboratories by 18.3% in the 1st 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 last quarter. Mackenzie Financial Corp boosted its position in Dolby Laboratories by 17.9% in the 1st 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 last quarter. Charles Schwab Investment Management Inc. boosted its position in Dolby Laboratories by 2.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 757,994 shares of the electronics maker's stock valued at $60,874,000 after buying an additional 15,355 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Dolby Laboratories by 15.0% in the 1st quarter. Northern Trust Corp now owns 669,406 shares of the electronics maker's stock valued at $53,760,000 after buying an additional 87,402 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Stock Down 0.3%

Dolby Laboratories stock traded down $0.23 during mid-day trading on Friday, hitting $72.56. 371,551 shares of the company's stock were exchanged, compared to its average volume of 437,321. The firm has a market capitalization of $6.95 billion, a P/E ratio of 26.58 and a beta of 0.93. Dolby Laboratories has a fifty-two week low of $68.24 and a fifty-two week high of $89.66. The company's 50 day simple moving average is $74.06 and its 200-day simple moving average is $75.82.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $315.55 million for the quarter, compared to the consensus estimate of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.The firm's revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. Dolby Laboratories has set its FY 2025 guidance at 3.880-4.030 EPS. Q4 2025 guidance at 0.610-0.760 EPS. Research analysts expect that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders 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 (DPR) is currently 48.35%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DLB shares. Wall Street Zen upgraded Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Rosenblatt Securities restated a "buy" rating and issued a $95.00 price target on shares of Dolby Laboratories in a research report on Friday, August 1st. 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 report on Friday, August 15th. Robert W. Baird started coverage on Dolby Laboratories in a research report on Friday. They issued a "neutral" rating and a $74.00 price target on the stock. Finally, Baird R W upgraded Dolby Laboratories to a "hold" rating in a research report on Friday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $95.75.

Insider Activity

In other Dolby Laboratories news, SVP Shriram Revankar sold 7,000 shares of Dolby Laboratories stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.92, for a total value of $524,440.00. Following the sale, the senior vice president owned 70,435 shares of the company's stock, valued at $5,276,990.20. This trade represents a 9.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin J. Yeaman sold 25,000 shares of Dolby Laboratories stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 114,725 shares in the company, valued at $8,295,764.75. This represents a 17.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,049 shares of company stock worth $9,920,281 in the last three months. Company insiders own 38.39% of the company's stock.

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.