Hsbc Holdings PLC Purchases 19,105 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Hsbc Holdings PLC increased its position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 692.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,863 shares of the electronics maker's stock after purchasing an additional 19,105 shares during the quarter. Hsbc Holdings PLC's holdings in Dolby Laboratories were worth $1,713,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Dolby Laboratories by 64.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock valued at $376,948,000 after buying an additional 1,887,518 shares during the period. Norges Bank bought a new stake in Dolby Laboratories during the fourth quarter worth about $55,356,000. ExodusPoint Capital Management LP bought a new position in shares of Dolby Laboratories during the fourth quarter valued at approximately $11,459,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Dolby Laboratories by 10,441,900.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker's stock valued at $8,123,000 after purchasing an additional 104,419 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Dolby Laboratories by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker's stock worth $549,325,000 after purchasing an additional 68,771 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

Insider Transactions at Dolby Laboratories

In other news, CMO Todd Pendleton sold 18,121 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at $3,123,037.50. This represents a 32.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 38.39% of the company's stock.

Dolby Laboratories Stock Down 0.1 %

Shares of Dolby Laboratories stock traded down $0.08 on Wednesday, reaching $74.18. The company's stock had a trading volume of 35,162 shares, compared to its average volume of 451,334. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 27.27 and a beta of 0.95. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66. The firm's fifty day simple moving average is $77.46 and its two-hundred day simple moving average is $78.34.

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

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.78%. Dolby Laboratories's payout ratio is 49.81%.

Analysts Set New Price Targets

DLB has been the subject of a number of recent research reports. Rosenblatt Securities lowered their price objective on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Barrington Research reissued an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, May 2nd. Finally, StockNews.com lowered shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

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.