TD Asset Management Inc Has $1.24 Million Stock Position in Dolby Laboratories $DLB

Key Points

• TD Asset Management Inc increased its stake in Dolby Laboratories by 41.5%, holding a total of 16,700 shares worth approximately $1.24 million at the end of the second quarter.
• CEO Kevin J. Yeaman sold 25,000 shares for about $1.8 million, reducing his ownership by 17.89%, while other insiders collectively sold 82,000 shares valued at approximately $5.85 million in recent months.
• Dolby Laboratories reported a 9.2% year-over-year revenue increase, reaching $315.55 million for the last quarter, and has set FY 2025 EPS guidance between $3.880 - $4.030.

TD Asset Management Inc grew its stake in Dolby Laboratories (NYSE:DLB - Free Report) by 41.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,700 shares of the electronics maker's stock after purchasing an additional 4,900 shares during the quarter. TD Asset Management Inc's holdings in Dolby Laboratories were worth $1,240,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new stake in Dolby Laboratories during the 1st quarter worth $25,000. MAI Capital Management grew its holdings in shares of Dolby Laboratories by 87.1% in the 1st quarter. MAI Capital Management now owns 348 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 162 shares in the last quarter. Cheviot Value Management LLC bought a new position in shares of Dolby Laboratories in the 1st quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Dolby Laboratories in the 1st quarter valued at about $29,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Dolby Laboratories in the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 58.56% of the company's stock.

Insider Buying and Selling

In other news, CEO Kevin J. Yeaman sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $72.31, for a total transaction of $1,807,750.00. Following the completion of the transaction, the chief executive officer directly owned 114,725 shares of the company's stock, valued at $8,295,764.75. This represents a 17.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Shriram Revankar sold 7,000 shares of the 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. This represents a 9.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,000 shares of company stock valued at $5,845,440 over the last three months. Insiders own 38.39% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DLB. Robert W. Baird began coverage on shares of Dolby Laboratories in a research report on Friday, September 5th. They set a "neutral" rating and a $74.00 price objective for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Dolby Laboratories in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Barrington Research reiterated an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Friday, September 12th. Finally, Baird R W upgraded shares of Dolby Laboratories to a "hold" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.75.

Dolby Laboratories Stock Performance

NYSE:DLB opened at $67.13 on Thursday. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 24.59 and a beta of 0.92. Dolby Laboratories has a 52 week low of $67.10 and a 52 week high of $89.66. The firm has a 50-day moving average price of $71.60 and a two-hundred day moving average price of $73.53.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. The firm had revenue of $315.55 million during the quarter, compared to analyst estimates of $305.23 million. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. The company's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. Dolby Laboratories has set its FY 2025 guidance at 3.880-4.030 EPS. Q4 2025 guidance at 0.610-0.760 EPS. As a group, sell-side analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 12th. Dolby Laboratories's dividend payout ratio is currently 48.35%.

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.

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