Hsbc Holdings PLC Has $1.71 Million Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Hsbc Holdings PLC boosted its position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 692.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,863 shares of the electronics maker's stock after buying an additional 19,105 shares during the quarter. Hsbc Holdings PLC's holdings in Dolby Laboratories were worth $1,713,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of DLB. Savant Capital LLC boosted its stake in Dolby Laboratories by 2.0% in the fourth quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker's stock valued at $490,000 after acquiring an additional 125 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in Dolby Laboratories by 0.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker's stock worth $1,525,000 after buying an additional 132 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Dolby Laboratories by 5.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker's stock worth $201,000 after buying an additional 136 shares during the period. Mather Group LLC. lifted its stake in Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after buying an additional 142 shares during the last quarter. Finally, Naples Global Advisors LLC boosted its holdings in shares of Dolby Laboratories by 0.4% in the fourth quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker's stock valued at $2,791,000 after acquiring an additional 160 shares during the period. Institutional investors own 58.56% of the company's stock.

Dolby Laboratories Stock Down 0.5 %

Shares of NYSE:DLB traded down $0.34 during trading on Tuesday, hitting $74.37. 192,505 shares of the company traded hands, compared to its average volume of 476,466. The business's fifty day moving average is $77.59 and its 200-day moving average is $78.37. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 27.34 and a beta of 0.94. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.05. The company had revenue of $369.56 million during the quarter, compared to analysts' expectations of $375.44 million. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.27 earnings per share. On average, analysts forecast that Dolby Laboratories, Inc. will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.77%. The ex-dividend date is Tuesday, May 13th. Dolby Laboratories's payout ratio is 48.53%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Rosenblatt Securities reduced their target price on shares of Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Friday. StockNews.com lowered Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st. Finally, Barrington Research restated an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Friday.

Insider Activity

In other Dolby Laboratories news, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the transaction, the chief accounting officer now owns 29,758 shares in the company, valued at $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Todd Pendleton sold 18,121 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the sale, the chief marketing officer now owns 37,290 shares of the company's stock, valued at $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 38.39% of the company's stock.

Dolby Laboratories Company 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.