Point72 Hong Kong Ltd Purchases New Position in Dolby Laboratories, Inc. (NYSE:DLB)

Point72 Hong Kong Ltd bought a new stake 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 (SEC). The fund bought 3,544 shares of the electronics maker's stock, valued at approximately $277,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DLB. Allspring Global Investments Holdings LLC boosted its position 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 buying an additional 104,419 shares during the period. Barclays PLC increased its position in shares of Dolby Laboratories by 80.5% in the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker's stock valued at $2,544,000 after acquiring an additional 14,825 shares during the period. AlphaQuest LLC increased its position in shares of Dolby Laboratories by 111.1% in the 4th quarter. AlphaQuest LLC now owns 6,148 shares of the electronics maker's stock valued at $480,000 after acquiring an additional 3,235 shares during the period. SG Americas Securities LLC acquired a new position in shares of Dolby Laboratories in the 4th quarter valued at $3,543,000. Finally, Twin Tree Management LP purchased a new stake in Dolby Laboratories in the fourth quarter valued at $662,000. 58.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DLB shares. Wall Street Zen lowered shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st. Rosenblatt Securities dropped their price target 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, May 2nd. Barrington Research reissued an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Friday, May 2nd. Finally, Tigress Financial began coverage on shares of Dolby Laboratories in a report on Thursday, May 15th. They issued a "buy" rating and a $112.00 target price for the company.

Dolby Laboratories Price Performance

DLB traded up $0.09 during trading hours on Thursday, reaching $75.85. 68,753 shares of the stock traded hands, compared to its average volume of 449,497. The firm's fifty day simple moving average is $76.30 and its two-hundred day simple moving average is $78.55. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 27.88 and a beta of 0.95. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, beating the consensus estimate of $1.29 by $0.05. The business had revenue of $369.56 million during the quarter, compared to analyst estimates of $375.44 million. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The company's quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 EPS. On average, research analysts predict that Dolby Laboratories, Inc. 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, May 21st. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Tuesday, May 13th. Dolby Laboratories's dividend payout ratio is presently 49.81%.

Insider Buying and Selling at Dolby Laboratories

In related news, SVP John D. Couling sold 675 shares of Dolby Laboratories stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $75.04, for a total transaction of $50,652.00. Following the sale, the senior vice president now directly owns 121,151 shares of the company's stock, valued at $9,091,171.04. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 38.39% of the company's stock.

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.