Voya Investment Management LLC Raises Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Voya Investment Management LLC grew its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 157.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,539 shares of the electronics maker's stock after purchasing an additional 12,558 shares during the period. Voya Investment Management LLC's holdings in Dolby Laboratories were worth $1,604,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC grew its holdings in 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 worth $8,123,000 after acquiring an additional 104,419 shares during the period. Barclays PLC grew its stake in shares of Dolby Laboratories by 80.5% during the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker's stock worth $2,544,000 after purchasing an additional 14,825 shares during the period. Franklin Resources Inc. grew its stake in shares of Dolby Laboratories by 22.0% during the 3rd quarter. Franklin Resources Inc. now owns 47,247 shares of the electronics maker's stock worth $3,513,000 after purchasing an additional 8,509 shares during the period. AlphaQuest LLC lifted its stake in shares of Dolby Laboratories by 111.1% in the fourth quarter. AlphaQuest LLC now owns 6,148 shares of the electronics maker's stock valued at $480,000 after purchasing an additional 3,235 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Dolby Laboratories in the fourth quarter valued at about $3,543,000. 58.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Dolby Laboratories news, SVP John D. Couling sold 675 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $75.04, for a total value of $50,652.00. Following the sale, the senior vice president now directly owns 121,151 shares of the company's stock, valued at approximately $9,091,171.04. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the chief marketing officer now directly owns 37,290 shares of the company's stock, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their position. The disclosure for this sale can be found here. 38.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DLB shares. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Friday, May 2nd. StockNews.com cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st. Finally, Rosenblatt Securities lowered their target price on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, May 2nd.

Dolby Laboratories Price Performance

DLB traded up $0.31 during midday trading on Friday, reaching $75.29. 278,880 shares of the company's stock were exchanged, compared to its average volume of 454,071. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The stock has a market capitalization of $7.19 billion, a PE ratio of 27.68 and a beta of 0.95. The business's 50-day moving average price is $77.07 and its 200 day moving average price is $78.37.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $369.56 million during the quarter, compared to the consensus estimate of $375.44 million. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The company's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.27 EPS. As a group, analysts expect that Dolby Laboratories, Inc. will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Tuesday, May 13th. Dolby Laboratories's payout ratio is currently 49.81%.

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.