State of Wyoming Reduces Stock Holdings in Dolby Laboratories $DLB

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

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Securian Asset Management Inc. increased its holdings in shares of Dolby Laboratories by 3.0% in the first quarter. Securian Asset Management Inc. now owns 4,648 shares of the electronics maker's stock worth $373,000 after buying an additional 137 shares during the period. Net Worth Advisory Group boosted its stake in shares of Dolby Laboratories by 5.2% during the first quarter. Net Worth Advisory Group now owns 3,591 shares of the electronics maker's stock valued at $288,000 after purchasing an additional 178 shares during the period. US Bancorp DE boosted its stake in shares of Dolby Laboratories by 18.6% during the first quarter. US Bancorp DE now owns 1,444 shares of the electronics maker's stock valued at $116,000 after purchasing an additional 226 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in shares of Dolby Laboratories by 2.7% in the first quarter. Linden Thomas Advisory Services LLC now owns 8,635 shares of the electronics maker's stock worth $693,000 after purchasing an additional 229 shares during the last quarter. Finally, Palogic Value Management L.P. boosted its position in Dolby Laboratories by 6.4% during the 4th quarter. Palogic Value Management L.P. now owns 3,888 shares of the electronics maker's stock valued at $304,000 after buying an additional 235 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 analyst reports. Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Baird R W upgraded shares of Dolby Laboratories to a "hold" rating in a report on Friday, September 5th. Tigress Financial boosted their price objective 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 assumed coverage on shares of Dolby Laboratories in a research report on Friday, September 5th. They issued a "neutral" rating and a $74.00 target price for the company. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $95.00 price target on shares of Dolby Laboratories in a research report on Friday, August 1st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Dolby Laboratories has a consensus rating of "Moderate Buy" and an average price target of $95.75.

Dolby Laboratories Price Performance

DLB stock traded down $1.28 on Wednesday, reaching $71.01. 389,146 shares of the company traded hands, compared to its average volume of 433,059. The firm has a fifty day simple moving average of $73.98 and a 200-day simple moving average of $75.69. The company has a market cap of $6.81 billion, a P/E ratio of 26.01 and a beta of 0.93. Dolby Laboratories has a one year low of $68.24 and a one year high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its 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 net margin of 19.62% and a return on equity of 11.52%. The firm had revenue of $315.55 million for the quarter, compared to the consensus estimate of $305.23 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The business's revenue was up 9.2% on a year-over-year basis. 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, sell-side analysts forecast that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Tuesday, August 12th were paid a $0.33 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.9%. Dolby Laboratories's payout ratio is currently 48.35%.

Insiders Place Their Bets

In other news, CEO Kevin J. Yeaman sold 39,875 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer owned 114,725 shares of the company's stock, valued at $8,583,724.50. This trade represents a 25.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Shriram Revankar sold 7,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $74.92, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,366 shares of company stock worth $7,352,963. Corporate 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.