NEOS Investment Management LLC Purchases 129 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

NEOS Investment Management LLC lifted its holdings in Dolby Laboratories, Inc. (NYSE:DLBFree Report) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,709 shares of the electronics maker’s stock after purchasing an additional 129 shares during the period. NEOS Investment Management LLC’s holdings in Dolby Laboratories were worth $233,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its position in shares of Dolby Laboratories by 7.7% during the 3rd quarter. Victory Capital Management Inc. now owns 22,821 shares of the electronics maker’s stock valued at $1,809,000 after acquiring an additional 1,628 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Dolby Laboratories in the 3rd quarter valued at approximately $567,000. Barclays PLC raised its holdings in shares of Dolby Laboratories by 538.0% in the 3rd quarter. Barclays PLC now owns 91,135 shares of the electronics maker’s stock worth $7,223,000 after buying an additional 76,851 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Dolby Laboratories by 23.4% during the 3rd quarter. Quantbot Technologies LP now owns 3,837 shares of the electronics maker’s stock worth $304,000 after buying an additional 727 shares during the period. Finally, New York Life Investment Management LLC boosted its stake in Dolby Laboratories by 114.3% in the 3rd quarter. New York Life Investment Management LLC now owns 6,303 shares of the electronics maker’s stock valued at $500,000 after buying an additional 3,362 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark Andrew Sherman sold 2,283 shares of Dolby Laboratories stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $79.62, for a total value of $181,772.46. Following the completion of the sale, the executive vice president now directly owns 58,325 shares of the company’s stock, valued at approximately $4,643,836.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 39.54% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of DLB stock opened at $80.01 on Friday. Dolby Laboratories, Inc. has a 52 week low of $75.87 and a 52 week high of $91.01. The stock has a market capitalization of $7.67 billion, a PE ratio of 40.82 and a beta of 0.99. The stock’s fifty day moving average is $80.92 and its 200-day moving average is $82.94.

Dolby Laboratories (NYSE:DLBGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The electronics maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $364.52 million for the quarter, compared to analyst estimates of $361.98 million. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.15%. As a group, analysts forecast that Dolby Laboratories, Inc. will post 2.68 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Monday, May 13th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 61.22%.

Wall Street Analysts Forecast Growth

DLB has been the subject of a number of analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a report on Monday, April 29th. Barrington Research upgraded shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research report on Monday. Finally, raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, May 11th.

Read Our Latest Analysis on DLB

Dolby Laboratories Profile

(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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Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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