Dolby Laboratories $DLB Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its holdings in shares of Dolby Laboratories (NYSE:DLB) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,932 shares of the electronics maker’s stock after selling 270 shares during the quarter. State of Alaska Department of Revenue’s holdings in Dolby Laboratories were worth $2,073,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Dolby Laboratories by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 7,535,722 shares of the electronics maker’s stock worth $605,194,000 after buying an additional 502,110 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Dolby Laboratories by 18.3% during the 1st quarter. Bank of New York Mellon Corp now owns 5,709,193 shares of the electronics maker’s stock worth $458,505,000 after buying an additional 882,716 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Dolby Laboratories by 17.9% during the 1st quarter. Mackenzie Financial Corp now owns 1,147,800 shares of the electronics maker’s stock worth $92,180,000 after buying an additional 174,373 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Dolby Laboratories by 63.6% during the 1st quarter. AQR Capital Management LLC now owns 1,143,978 shares of the electronics maker’s stock worth $90,946,000 after buying an additional 444,718 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Dolby Laboratories by 0.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,140,821 shares of the electronics maker’s stock worth $91,602,000 after buying an additional 6,953 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Kevin J. Yeaman sold 25,000 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $71.66, for a total transaction of $1,791,500.00. Following the completion of the sale, the chief executive officer owned 114,725 shares in the company, valued at $8,221,193.50. This represents a 17.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Shriram Revankar sold 7,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $74.92, for a total transaction of $524,440.00. Following the sale, the senior vice president owned 70,435 shares of the company’s stock, valued at approximately $5,276,990.20. This represents a 9.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,366 shares of company stock valued at $7,293,963. 38.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on DLB shares. Tigress Financial increased their price objective on shares of Dolby Laboratories from $112.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Wall Street Zen raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Robert W. Baird started coverage on shares of Dolby Laboratories in a research report on Friday, September 5th. They issued a “neutral” rating and a $74.00 price objective on the stock. Baird R W raised shares of Dolby Laboratories to a “hold” rating in a research report on Friday, September 5th. Finally, Barrington Research reissued an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, September 12th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Dolby Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $95.75.

Dolby Laboratories Price Performance

NYSE DLB opened at $71.51 on Friday. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 26.19 and a beta of 0.92. The firm’s fifty day moving average price is $72.74 and its 200 day moving average price is $74.59. Dolby Laboratories has a 12 month low of $68.24 and a 12 month high of $89.66.

Dolby Laboratories (NYSE:DLB) last issued its quarterly 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 firm had revenue of $315.55 million during the quarter, compared to analysts’ expectations of $305.23 million. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. Dolby Laboratories’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business 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. As a group, sell-side analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

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

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.