Panagora Asset Management Inc. Acquires Shares of 16,105 Dolby Laboratories $DLB

Key Points

• Panagora Asset Management Inc. invested approximately $1.29 million in Dolby Laboratories by acquiring 16,105 shares during the first quarter.
• Dolby's latest earnings report showed a quarterly EPS of $0.78, exceeding estimates, with a revenue increase of 9.2% compared to the previous year.
• Several institutional investors have made significant investments in Dolby, with 58.56% of the company's stock now owned by institutional shareholders.

Panagora Asset Management Inc. bought a new stake in shares of Dolby Laboratories (NYSE:DLB - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 16,105 shares of the electronics maker's stock, valued at approximately $1,293,000.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Dolby Laboratories by 7.1% during the first quarter. Vanguard Group Inc. now owns 7,535,722 shares of the electronics maker's stock worth $605,194,000 after buying an additional 502,110 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 purchasing an additional 882,716 shares during the last quarter. Mackenzie Financial Corp grew its position in Dolby Laboratories by 17.9% during 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. Charles Schwab Investment Management Inc. grew its position in Dolby Laboratories by 2.1% during the first 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 period. Finally, Northern Trust Corp grew its position in Dolby Laboratories by 15.0% during the first 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 period. Institutional investors and hedge funds own 58.56% of the company's stock.

Dolby Laboratories Stock Performance

Dolby Laboratories stock traded down $0.78 during mid-day trading on Tuesday, hitting $72.51. 57,262 shares of the company traded hands, compared to its average volume of 431,867. Dolby Laboratories has a one year low of $68.24 and a one year high of $89.66. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 26.51 and a beta of 0.93. The stock has a fifty day moving average price of $74.04 and a 200-day moving average price of $75.72.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $315.55 million for the quarter, compared to the consensus estimate of $305.23 million. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. The business's revenue was up 9.2% compared to the same quarter last year. During the same period 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. Sell-side analysts predict that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently declared 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 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 48.35%.

Analysts Set New Price Targets

Several research firms recently weighed in on DLB. Tigress Financial increased their price target on shares of Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Robert W. Baird began coverage on shares of Dolby Laboratories in a research report on Friday. They set a "neutral" rating and a $74.00 price target for the company. Baird R W upgraded shares of Dolby Laboratories to a "hold" rating in a research report on Friday. Rosenblatt Securities restated a "buy" rating and set a $95.00 price target on shares of Dolby Laboratories in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Dolby Laboratories has a consensus rating of "Moderate Buy" and an average price target of $95.75.

Insider Activity at Dolby Laboratories

In related news, SVP Shriram Revankar sold 7,000 shares of Dolby Laboratories 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin J. Yeaman sold 39,875 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $74.82, for a total transaction of $2,983,447.50. Following the transaction, the chief executive officer directly owned 114,725 shares in the company, valued at approximately $8,583,724.50. The trade was a 25.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 99,366 shares of company stock worth $7,352,963 over the last three months. 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.