Dolby Laboratories $DLB Shares Sold by State of Wyoming

Key Points

• The State of Wyoming reduced its holdings in Dolby Laboratories by 74.3%, now owning 1,648 shares worth $132,000 after selling 4,762 shares in the first quarter.
• Dolby Laboratories reported earnings of $0.78 per share for the last quarter, surpassing expectations, with revenue rising 9.2% year-over-year to $315.55 million.
• The company recently declared a quarterly dividend of $0.33, yielding approximately 1.8%, with a payout ratio of 48.35%.

State of Wyoming trimmed its stake in Dolby Laboratories (NYSE:DLB - Free Report) by 74.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,648 shares of the electronics maker's stock after selling 4,762 shares during the period. State of Wyoming's holdings in Dolby Laboratories were worth $132,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Dolby Laboratories by 114.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,141 shares of the electronics maker's stock worth $975,000 after acquiring an additional 6,484 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of Dolby Laboratories in the 1st quarter worth $222,000. Vanguard Group Inc. raised its position in shares of Dolby Laboratories by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 7,535,722 shares of the electronics maker's stock worth $605,194,000 after acquiring an additional 502,110 shares in the last quarter. Fiera Capital Corp raised its position in shares of Dolby Laboratories by 19.0% in the 1st quarter. Fiera Capital Corp now owns 639,404 shares of the electronics maker's stock worth $51,351,000 after acquiring an additional 102,028 shares in the last quarter. Finally, Vise Technologies Inc. bought a new position in shares of Dolby Laboratories in the 4th quarter worth $308,000. 58.56% of the stock is owned by institutional investors.

Insider Transactions at Dolby Laboratories

In other news, SVP Shriram Revankar sold 7,000 shares of the company's 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 in the company, valued at $5,276,990.20. This represents 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 the SEC website. Also, CEO Kevin J. Yeaman sold 39,875 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $74.82, for a total value of $2,983,447.50. Following the completion of the sale, the chief executive officer owned 114,725 shares in the company, valued at $8,583,724.50. The trade was a 25.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,366 shares of company stock worth $7,352,963 over the last three months. Corporate insiders own 38.39% of the company's stock.

Dolby Laboratories Trading Down 0.9%

Shares of DLB stock traded down $0.63 during mid-day trading on Friday, reaching $71.48. The stock had a trading volume of 337,864 shares, compared to its average volume of 440,754. The business's fifty day moving average is $73.73 and its 200-day moving average is $75.53. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 26.18 and a beta of 0.93. Dolby Laboratories has a 1-year low of $68.24 and a 1-year high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.06. The business had revenue of $315.55 million for the quarter, compared to analyst estimates of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.The company's revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the company earned $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. On average, analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Tuesday, August 12th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.8%. Dolby Laboratories's dividend payout ratio is currently 48.35%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DLB. Rosenblatt Securities reaffirmed a "buy" rating and set a $95.00 target price on shares of Dolby Laboratories in a research report on Friday, August 1st. Tigress Financial upped their target price on Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Barrington Research reaffirmed an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Friday. Wall Street Zen raised Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Finally, Robert W. Baird initiated coverage on shares of Dolby Laboratories in a research report on Friday, September 5th. They set a "neutral" rating and a $74.00 target price on the stock. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Dolby Laboratories has an average rating of "Moderate Buy" and an average target price of $95.75.

About Dolby Laboratories

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.