Maryland State Retirement & Pension System Sells 610 Shares of Dolby Laboratories $DLB

Maryland State Retirement & Pension System lowered its holdings in Dolby Laboratories (NYSE:DLB) by 18.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,732 shares of the electronics maker’s stock after selling 610 shares during the period. Maryland State Retirement & Pension System’s holdings in Dolby Laboratories were worth $219,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in Dolby Laboratories during the first quarter valued at about $25,000. Cheviot Value Management LLC purchased a new position in Dolby Laboratories in the first quarter valued at about $27,000. Global X Japan Co. Ltd. bought a new position in shares of Dolby Laboratories during the 1st quarter valued at approximately $51,000. Fifth Third Bancorp increased its stake in shares of Dolby Laboratories by 84.7% during the 1st quarter. Fifth Third Bancorp now owns 665 shares of the electronics maker’s stock worth $53,000 after purchasing an additional 305 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Dolby Laboratories by 170.5% in the 1st quarter. UMB Bank n.a. now owns 698 shares of the electronics maker’s stock worth $56,000 after purchasing an additional 440 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Performance

NYSE:DLB opened at $73.7810 on Wednesday. Dolby Laboratories has a 52-week low of $68.24 and a 52-week high of $89.66. The stock has a fifty day moving average of $74.37 and a 200 day moving average of $76.83. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 27.03 and a beta of 0.91.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Thursday, July 31st. The electronics maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $315.55 million for the quarter, compared to analyst estimates of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. Dolby Laboratories has set its FY 2025 guidance at 3.880-4.030 EPS. Q4 2025 guidance at 0.610-0.760 EPS. Equities analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Tuesday, August 12th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 12th. Dolby Laboratories’s payout ratio is currently 48.35%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DLB shares. Wall Street Zen lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Tigress Financial lifted their price objective on Dolby Laboratories from $112.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 price objective on shares of Dolby Laboratories in a report on Friday, August 1st. Finally, Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, May 2nd. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $103.00.

Insiders Place Their Bets

In related news, EVP Mark Andrew Sherman sold 15,000 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $75.02, for a total value of $1,125,300.00. Following the completion of the transaction, the executive vice president directly owned 62,397 shares in the company, valued at approximately $4,681,022.94. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin J. Yeaman sold 39,875 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $74.82, for a total value of $2,983,447.50. Following the sale, the chief executive officer owned 114,725 shares in the company, valued at $8,583,724.50. The trade was a 25.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 141,049 shares of company stock worth $10,521,141 in the last three months. Insiders own 38.39% 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.