Strs Ohio Makes New $2.01 Million Investment in Dolby Laboratories $DLB

Key Points

• Strs Ohio has invested approximately $2.01 million in Dolby Laboratories by acquiring 25,057 shares during the 1st quarter.
• Dolby Laboratories' quarterly earnings exceeded estimates, reporting $0.78 EPS against a consensus of $0.72, and revenue of $315.55 million.
• The company also announced a quarterly dividend of $0.33, reflecting an annualized dividend yield of 1.8%.

Strs Ohio acquired a new stake in Dolby Laboratories (NYSE:DLB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,057 shares of the electronics maker's stock, valued at approximately $2,012,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Dolby Laboratories by 7.1% during the first quarter. Vanguard Group Inc. now owns 7,535,722 shares of the electronics maker's stock valued at $605,194,000 after purchasing an additional 502,110 shares during the last quarter. Bank of New York Mellon Corp raised its position in Dolby Laboratories by 18.3% during the first quarter. Bank of New York Mellon Corp now owns 5,709,193 shares of the electronics maker's stock valued at $458,505,000 after buying an additional 882,716 shares during the period. Mackenzie Financial Corp raised its position in Dolby Laboratories by 17.9% during the first quarter. Mackenzie Financial Corp now owns 1,147,800 shares of the electronics maker's stock valued at $92,180,000 after buying an additional 174,373 shares during the period. AQR Capital Management LLC raised its position in Dolby Laboratories by 63.6% during the first quarter. AQR Capital Management LLC now owns 1,143,978 shares of the electronics maker's stock valued at $90,946,000 after buying an additional 444,718 shares during the period. Finally, Acadian Asset Management LLC raised its position in Dolby Laboratories by 0.6% during the first quarter. Acadian Asset Management LLC now owns 1,140,821 shares of the electronics maker's stock valued at $91,602,000 after buying an additional 6,953 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.

Dolby Laboratories Stock Down 0.8%

DLB stock traded down $0.57 during midday trading on Friday, reaching $71.53. 2,062,848 shares of the company's stock traded hands, compared to its average volume of 437,041. The company has a 50-day simple moving average of $73.38 and a two-hundred day simple moving average of $75.21. Dolby Laboratories has a 1-year low of $68.24 and a 1-year high of $89.66. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 26.20 and a beta of 0.93.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its earnings results on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, beating 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 company had revenue of $315.55 million during the quarter, compared to analysts' expectations of $305.23 million. During the same period last year, the firm earned $0.71 EPS. The business's revenue for the quarter 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. Equities research analysts forecast that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on DLB shares. Wall Street Zen raised Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Robert W. Baird started coverage on Dolby Laboratories in a research report on Friday, September 5th. They set a "neutral" rating and a $74.00 price target on the stock. Tigress Financial upped their price target on Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $95.00 target price on shares of Dolby Laboratories in a research report on Friday, August 1st. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, September 12th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Dolby Laboratories has an average rating of "Moderate Buy" and a consensus price target of $95.75.

Insider Activity

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 25,000 shares of Dolby Laboratories stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $71.66, for a total value of $1,791,500.00. Following the sale, the chief executive officer owned 114,725 shares of the company's stock, valued at $8,221,193.50. This trade represents a 17.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Shriram Revankar sold 7,000 shares of Dolby Laboratories stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $74.92, for a total value of $524,440.00. Following the completion of the sale, the senior vice president directly owned 70,435 shares in the company, valued at approximately $5,276,990.20. This represents a 9.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,366 shares of company stock worth $9,144,463 in the last three months. Company insiders own 38.39% of the company's stock.

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.