Russell Investments Group Ltd. Grows Position in Dolby Laboratories $DLB

Key Points

• Russell Investments Group Ltd. increased its holdings in Dolby Laboratories by 53.7%, acquiring an additional 21,994 shares during the first quarter.
• CEO Kevin J. Yeaman sold 39,875 shares of the company's stock, representing a 25.79% decrease in his position, with a total value of nearly $3 million.
• The stock currently has a consensus rating of "Buy" among analysts, with price targets ranging from $95.00 to $114.00.

Russell Investments Group Ltd. increased its stake in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 53.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 62,918 shares of the electronics maker's stock after purchasing an additional 21,994 shares during the period. Russell Investments Group Ltd. owned 0.07% of Dolby Laboratories worth $5,051,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DLB. Securian Asset Management Inc. raised its holdings in shares of Dolby Laboratories by 3.0% in the 1st quarter. Securian Asset Management Inc. now owns 4,648 shares of the electronics maker's stock valued at $373,000 after acquiring an additional 137 shares in the last quarter. Net Worth Advisory Group raised its holdings in shares of Dolby Laboratories by 5.2% in the 1st quarter. Net Worth Advisory Group now owns 3,591 shares of the electronics maker's stock valued at $288,000 after acquiring an additional 178 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Dolby Laboratories by 0.5% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 44,954 shares of the electronics maker's stock valued at $3,511,000 after acquiring an additional 216 shares in the last quarter. US Bancorp DE raised its holdings in shares of Dolby Laboratories by 18.6% in the 1st quarter. US Bancorp DE now owns 1,444 shares of the electronics maker's stock valued at $116,000 after acquiring an additional 226 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its holdings in shares of Dolby Laboratories by 2.7% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 8,635 shares of the electronics maker's stock valued at $693,000 after acquiring an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company's stock.

Wall Street Analysts Forecast Growth

DLB has been the topic of several recent analyst reports. Tigress Financial raised their price target on Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a report on Friday, August 15th. Wall Street Zen lowered Dolby Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Barrington Research reiterated an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, May 2nd. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $95.00 price objective on shares of Dolby Laboratories in a research report on Friday, August 1st. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Dolby Laboratories has an average rating of "Buy" and an average target price of $103.00.

Insider Transactions at Dolby Laboratories

In other news, SVP Shriram Revankar sold 7,000 shares of Dolby Laboratories stock in a transaction that occurred on 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 directly owned 70,435 shares in the company, valued at approximately $5,276,990.20. This trade represents a 9.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 15,000 shares of Dolby Laboratories stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 62,397 shares in the company, valued at approximately $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. In the last three months, insiders have sold 148,049 shares of company stock worth $11,045,581. 38.39% of the stock is currently owned by insiders.

Dolby Laboratories Stock Performance

DLB traded down $0.21 on Wednesday, hitting $72.82. 605,395 shares of the company were exchanged, compared to its average volume of 461,389. The firm has a fifty day simple moving average of $74.27 and a two-hundred day simple moving average of $76.44. Dolby Laboratories has a 12 month low of $68.24 and a 12 month high of $89.66. The stock has a market capitalization of $6.98 billion, a PE ratio of 26.68 and a beta of 0.91.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $305.23 million. During the same period last year, the company earned $0.71 EPS. Dolby Laboratories'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 analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Tuesday, August 12th were given 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 was Tuesday, August 12th. Dolby Laboratories's dividend payout ratio (DPR) is currently 48.35%.

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.