Ninety One SA PTY Ltd acquired a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 76,920 shares of the electronics maker's stock, valued at approximately $6,646,000. Ninety One SA PTY Ltd owned approximately 0.08% of Dolby Laboratories as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP grew its position in Dolby Laboratories by 248.2% during the 2nd quarter. Quarry LP now owns 296 shares of the electronics maker's stock worth $25,000 after purchasing an additional 211 shares in the last quarter. VisionPoint Advisory Group LLC boosted its stake in shares of Dolby Laboratories by 86.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after buying an additional 172 shares during the period. Blue Trust Inc. boosted its stake in shares of Dolby Laboratories by 75.7% during the 4th quarter. Blue Trust Inc. now owns 369 shares of the electronics maker's stock valued at $29,000 after buying an additional 159 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Dolby Laboratories by 52.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 400 shares of the electronics maker's stock valued at $34,000 after buying an additional 138 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Dolby Laboratories by 175.3% during the 3rd quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker's stock valued at $35,000 after buying an additional 284 shares during the period. 58.56% of the stock is currently owned by hedge funds and other institutional investors.
Dolby Laboratories Price Performance
NYSE:DLB traded up $0.31 during trading hours on Thursday, reaching $78.29. The company's stock had a trading volume of 233,305 shares, compared to its average volume of 373,379. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 40.56 and a beta of 0.97. Dolby Laboratories, Inc. has a one year low of $75.87 and a one year high of $91.01. The business's 50-day moving average is $81.62 and its 200-day moving average is $83.34.
Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.14. The firm had revenue of $315.57 million during the quarter, compared to analysts' expectations of $310.98 million. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. On average, sell-side analysts predict that Dolby Laboratories, Inc. will post 2.63 EPS for the current fiscal year.
Dolby Laboratories Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Monday, February 12th. Dolby Laboratories's dividend payout ratio (DPR) is 62.18%.
Insider Buying and Selling at Dolby Laboratories
In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of the company's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the completion of the sale, the senior vice president now directly owns 108,519 shares in the company, valued at $8,769,420.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 39.54% of the company's stock.
Analyst Upgrades and Downgrades
DLB has been the subject of a number of research reports. Rosenblatt Securities reissued a "buy" rating and set a $98.00 target price on shares of Dolby Laboratories in a research note on Wednesday, January 31st. StockNews.com upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Friday, February 2nd.
View Our Latest Analysis on Dolby Laboratories
About Dolby Laboratories
(
Free Report)
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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