Federated Hermes Inc. Has $2.34 Million Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Federated Hermes Inc. trimmed its position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 30.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,138 shares of the electronics maker's stock after selling 11,888 shares during the quarter. Federated Hermes Inc.'s holdings in Dolby Laboratories were worth $2,339,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Dolby Laboratories by 11.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,652 shares of the electronics maker's stock valued at $1,090,000 after buying an additional 1,253 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Dolby Laboratories by 5.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,048 shares of the electronics maker's stock worth $521,000 after buying an additional 308 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Dolby Laboratories during the fourth quarter worth approximately $1,439,000. AlphaQ Advisors LLC acquired a new stake in shares of Dolby Laboratories in the fourth quarter valued at approximately $291,000. Finally, NewEdge Wealth LLC grew its position in shares of Dolby Laboratories by 3.5% during the fourth quarter. NewEdge Wealth LLC now owns 38,398 shares of the electronics maker's stock worth $3,309,000 after acquiring an additional 1,316 shares during the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Trading Up 0.2 %

Shares of NYSE:DLB traded up $0.17 during midday trading on Monday, hitting $79.37. The stock had a trading volume of 299,137 shares, compared to its average volume of 362,008. The company has a market capitalization of $7.59 billion, a PE ratio of 41.12 and a beta of 0.97. Dolby Laboratories, Inc. has a 1 year low of $75.87 and a 1 year high of $91.01. The stock has a 50 day moving average price of $81.65 and a two-hundred day moving average price of $83.30.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. The firm had revenue of $315.57 million during the quarter, compared to analysts' expectations of $310.98 million. As a group, equities analysts expect that Dolby Laboratories, Inc. will post 2.6 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Tuesday, February 13th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. Dolby Laboratories's dividend payout ratio (DPR) is 62.18%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and set a $98.00 price objective on shares of Dolby Laboratories in a research report on Monday. StockNews.com raised Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, February 2nd.

Insider Buying and Selling

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 value of $2,711,983.60. Following the transaction, the senior vice president now directly owns 108,519 shares in the company, valued at approximately $8,769,420.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 39.54% 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.