Ninety One SA PTY Ltd Takes $6.65 Million Position in Dolby Laboratories, Inc. (NYSE:DLB)

Ninety One SA PTY Ltd acquired a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 76,920 shares of the electronics maker’s stock, valued at approximately $6,646,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP raised its position in shares of Dolby Laboratories by 248.2% during the second quarter. Quarry LP now owns 296 shares of the electronics maker’s stock valued at $25,000 after buying an additional 211 shares during the last quarter. VisionPoint Advisory Group LLC increased its position in Dolby Laboratories by 86.9% in the third quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 172 shares during the last quarter. Blue Trust Inc. increased its position in Dolby Laboratories by 75.7% in the fourth quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 159 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Dolby Laboratories by 52.7% in the first quarter. Tower Research Capital LLC TRC now owns 400 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 138 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in Dolby Laboratories by 175.3% in the third quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 284 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Analyst Ratings Changes

DLB has been the topic of several research reports. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Rosenblatt Securities restated a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a research report on Wednesday, January 31st.

Insiders Place Their Bets

In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of Dolby Laboratories stock in a transaction on 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 transaction, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at $8,769,420.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 39.54% of the stock is owned by insiders.

Dolby Laboratories Trading Up 0.1 %

DLB traded up $0.04 during trading hours on Thursday, hitting $78.02. The company’s stock had a trading volume of 128,604 shares, compared to its average volume of 371,889. The business’s 50-day moving average price is $81.67 and its 200-day moving average price is $83.37. Dolby Laboratories, Inc. has a 12 month low of $75.87 and a 12 month high of $91.01. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 40.40 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, topping the consensus estimate of $0.62 by $0.14. The company had revenue of $315.57 million during the quarter, compared to analyst estimates of $310.98 million. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. On average, analysts forecast that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Monday, February 12th. Dolby Laboratories’s payout ratio is 62.18%.

Dolby Laboratories 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.