Public Employees Retirement System of Ohio Buys Shares of 18,086 Dolby Laboratories $DLB

Key Points

• Public Employees Retirement System of Ohio initiated a position in Dolby Laboratories, purchasing 18,086 shares valued at approximately $951,000. Institutional investors and hedge funds collectively own 58.56% of DLB.
• Dolby reported quarterly EPS of $0.69, beating estimates by $0.02, while revenue fell 3.3% year over year to $305 million. The company also authorized a $350 million share buyback and pays a quarterly dividend of $0.36 per share, yielding about 2.3%.
• DLB shares opened at $62.28, below their one-year high of $73.78. Analyst sentiment is mixed, with an average rating of “Hold” and a consensus price target of $87.50; insiders have sold 28,889 shares worth roughly $1.7 million over the past 90 days.

Public Employees Retirement System of Ohio bought a new position in Dolby Laboratories (NYSE:DLB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 18,086 shares of the electronics maker's stock, valued at approximately $951,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DLB. Bank of New York Mellon Corp acquired a new position in Dolby Laboratories in the second quarter valued at about $253,289,000. State Street Corp grew its position in shares of Dolby Laboratories by 8.7% in the 2nd quarter. State Street Corp now owns 2,261,059 shares of the electronics maker's stock valued at $167,906,000 after purchasing an additional 180,072 shares during the period. First Trust Advisors LP raised its holdings in Dolby Laboratories by 19.9% during the 1st quarter. First Trust Advisors LP now owns 2,254,933 shares of the electronics maker's stock worth $135,431,000 after buying an additional 374,405 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Dolby Laboratories by 15.6% in the fourth quarter. Geode Capital Management LLC now owns 1,885,246 shares of the electronics maker's stock valued at $122,749,000 after buying an additional 254,250 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Dolby Laboratories by 51.8% during the second quarter. AQR Capital Management LLC now owns 1,736,260 shares of the electronics maker's stock worth $128,935,000 after acquiring an additional 592,282 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Insider Transactions at Dolby Laboratories

In other news, SVP John Couling sold 7,667 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $61.05, for a total value of $468,070.35. Following the completion of the sale, the senior vice president directly owned 118,727 shares in the company, valued at approximately $7,248,283.35. The trade was a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ryan Nicholson sold 1,348 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $62.04, for a total value of $83,629.92. Following the completion of the sale, the chief accounting officer owned 35,636 shares of the company's stock, valued at approximately $2,210,857.44. This trade represents a 3.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 28,889 shares of company stock valued at $1,706,606. 37.93% of the stock is currently owned by company insiders.

Dolby Laboratories Price Performance

DLB opened at $62.28 on Wednesday. The business has a fifty day simple moving average of $56.97 and a 200 day simple moving average of $58.24. Dolby Laboratories has a 1 year low of $48.26 and a 1 year high of $73.78. The company has a market capitalization of $5.83 billion, a PE ratio of 26.50 and a beta of 0.80.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The electronics maker reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $305.00 million for the quarter, compared to analysts' expectations of $311.96 million. Dolby Laboratories had a return on equity of 11.08% and a net margin of 16.70%.The company's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. Dolby Laboratories has set its FY 2026 guidance at 4.250-4.400 EPS and its Q4 2026 guidance at 1.130-1.280 EPS. Equities analysts anticipate that Dolby Laboratories will post 3.23 earnings per share for the current fiscal year.

Dolby Laboratories declared that its board has approved a share buyback plan on Thursday, July 30th that authorizes the company to repurchase $350.00 million in shares. This repurchase authorization authorizes the electronics maker to buy up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Dolby Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Tuesday, August 11th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, August 11th. Dolby Laboratories's dividend payout ratio is presently 61.28%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Dolby Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Barrington Research restated an "outperform" rating and issued a $90.00 price target on shares of Dolby Laboratories in a research note on Monday, June 15th. Weiss Ratings downgraded Dolby Laboratories from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, August 13th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $85.00 price objective on shares of Dolby Laboratories in a report on Friday, August 28th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $87.50.

About Dolby Laboratories

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company's core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby's licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.

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