Point72 Asset Management L.P. Takes Position in Dolby Laboratories, Inc. (NYSE:DLB)

Point72 Asset Management L.P. purchased a new stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,606 shares of the electronics maker's stock, valued at approximately $438,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Dolby Laboratories by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker's stock valued at $549,325,000 after buying an additional 68,771 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Dolby Laboratories by 64.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock valued at $376,948,000 after purchasing an additional 1,887,518 shares during the period. Boston Trust Walden Corp lifted its stake in shares of Dolby Laboratories by 0.9% in the 4th quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker's stock valued at $84,715,000 after purchasing an additional 9,624 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Dolby Laboratories by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 901,707 shares of the electronics maker's stock valued at $70,424,000 after purchasing an additional 31,164 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Dolby Laboratories by 0.9% in the 4th quarter. First Trust Advisors LP now owns 794,772 shares of the electronics maker's stock valued at $62,072,000 after purchasing an additional 7,265 shares during the period. Institutional investors own 58.56% of the company's stock.

Wall Street Analysts Forecast Growth

DLB has been the topic of a number of recent analyst reports. Barrington Research reissued an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, May 2nd. Rosenblatt Securities dropped their price objective on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Tigress Financial initiated coverage on Dolby Laboratories in a research note on Thursday, May 15th. They issued a "buy" rating and a $112.00 price objective on the stock. Finally, Wall Street Zen downgraded Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

Insider Transactions at Dolby Laboratories

In other news, SVP John D. Couling sold 675 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $75.04, for a total value of $50,652.00. Following the completion of the sale, the senior vice president now directly owns 121,151 shares of the company's stock, valued at $9,091,171.04. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 38.39% of the company's stock.

Dolby Laboratories Trading Down 0.1%

DLB stock traded down $0.05 during trading on Thursday, reaching $74.60. 61,630 shares of the stock were exchanged, compared to its average volume of 450,610. The firm's 50 day moving average is $75.60 and its 200 day moving average is $78.55. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66. The firm has a market cap of $7.17 billion, a P/E ratio of 27.43 and a beta of 0.95.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.05. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The business had revenue of $369.56 million for the quarter, compared to the consensus estimate of $375.44 million. During the same period in the prior year, the business earned $1.27 EPS. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, analysts predict that Dolby Laboratories, Inc. 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, May 21st. Stockholders of record on Tuesday, May 13th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories's dividend payout ratio (DPR) is presently 49.81%.

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.