Vident Advisory LLC Invests $2.74 Million in Dolby Laboratories $DLB

Key Points

• Vident Advisory LLC has acquired 34,123 shares of Dolby Laboratories, with a total value of approximately $2.74 million, during the first quarter of the year.
• Dolby Laboratories reported a quarterly earnings of $0.78 per share, exceeding analysts' expectations and marking a 9.2% increase in revenue year-over-year.
• The company has declared a quarterly dividend of $0.33 per share, resulting in an annualized yield of 1.8% and a dividend payout ratio of 48.35%.

Vident Advisory LLC acquired a new stake in shares of Dolby Laboratories (NYSE:DLB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 34,123 shares of the electronics maker's stock, valued at approximately $2,740,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DLB. Bank of New York Mellon Corp boosted its stake 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 last quarter. Vanguard Group Inc. boosted its stake in 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 buying an additional 502,110 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Dolby Laboratories during the fourth quarter valued at approximately $27,314,000. Frontier Capital Management Co. LLC bought a new position in Dolby Laboratories during the fourth quarter valued at approximately $24,323,000. Finally, Nuveen LLC bought a new stake in shares of Dolby Laboratories in the 1st quarter worth about $16,890,000. 58.56% of the stock is owned by institutional investors.

Insider Transactions at Dolby Laboratories

In related news, 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 transaction of $524,440.00. Following the completion of the sale, the senior vice president owned 70,435 shares in the company, valued at $5,276,990.20. This trade represents a 9.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin J. Yeaman sold 25,000 shares of Dolby Laboratories stock in a transaction dated 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 sale, the chief executive officer owned 114,725 shares of the company's stock, valued at $8,295,764.75. The trade was a 17.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,049 shares of company stock valued at $9,920,281 in the last quarter. 38.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DLB. Rosenblatt Securities restated a "buy" rating and issued a $95.00 target price on shares of Dolby Laboratories in a report on Friday, August 1st. Tigress Financial boosted their target price on shares of Dolby Laboratories from $112.00 to $114.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Baird R W upgraded shares of Dolby Laboratories to a "hold" rating in a report on Friday. Finally, Robert W. Baird initiated coverage on shares of Dolby Laboratories in a report on Friday. They issued a "neutral" rating and a $74.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Dolby Laboratories currently has an average rating of "Moderate Buy" and an average price target of $95.75.

Dolby Laboratories Price Performance

Shares of DLB traded down $0.23 during mid-day trading on Friday, reaching $72.56. 371,551 shares of the company's stock traded hands, compared to its average volume of 437,321. The stock has a market cap of $6.95 billion, a P/E ratio of 26.58 and a beta of 0.93. The stock's 50-day moving average is $74.06 and its two-hundred day moving average is $75.87. Dolby Laboratories has a 12 month low of $68.24 and a 12 month high of $89.66.

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 analysts' consensus estimates of $0.72 by $0.06. The firm had revenue of $315.55 million for the quarter, compared to analysts' expectations of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.The company's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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. Research analysts predict that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Tuesday, August 12th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.8%. Dolby Laboratories's dividend payout ratio (DPR) is presently 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.