Public Employees Retirement System of Ohio Has $1.46 Million Stake in Dolby Laboratories $DLB

Public Employees Retirement System of Ohio boosted its stake in Dolby Laboratories (NYSE:DLB) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,629 shares of the electronics maker’s stock after buying an additional 248 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Dolby Laboratories were worth $1,458,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Dolby Laboratories in the 1st quarter valued at $25,000. Cheviot Value Management LLC bought a new position in Dolby Laboratories in the 1st quarter valued at $27,000. MAI Capital Management raised its position in Dolby Laboratories by 87.1% in the 1st quarter. MAI Capital Management now owns 348 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 162 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Dolby Laboratories in the 1st quarter valued at $29,000. Finally, Global X Japan Co. Ltd. bought a new position in Dolby Laboratories in the 1st quarter valued at $51,000. Institutional investors own 58.56% of the company’s stock.

Insider Activity at Dolby Laboratories

In related news, SVP Shriram Revankar sold 7,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 70,435 shares of the company’s stock, valued at approximately $5,276,990.20. This represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin J. Yeaman sold 39,875 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 114,725 shares of the company’s stock, valued at $8,583,724.50. This trade represents a 25.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 99,366 shares of company stock valued at $7,293,963 over the last three months. Insiders own 38.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on DLB. Wall Street Zen upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $95.00 price objective on shares of Dolby Laboratories in a research report on Friday, August 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Dolby Laboratories in a research report on Saturday, September 27th. Robert W. Baird assumed coverage on Dolby Laboratories in a research report on Friday, September 5th. They set a “neutral” rating and a $74.00 target price for the company. Finally, Baird R W upgraded Dolby Laboratories to a “hold” rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Dolby Laboratories has an average rating of “Moderate Buy” and a consensus price target of $95.75.

Dolby Laboratories Stock Performance

NYSE DLB opened at $71.27 on Friday. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 26.10 and a beta of 0.92. The stock’s 50 day moving average price is $72.64 and its two-hundred day moving average price is $74.52. Dolby Laboratories has a 52 week low of $68.24 and a 52 week high of $89.66.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.The firm had revenue of $315.55 million for the quarter, compared to analysts’ expectations of $305.23 million. During the same quarter in the previous year, the business posted $0.71 EPS. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. Dolby Laboratories has set its FY 2025 guidance at 3.880-4.030 EPS. Q4 2025 guidance at 0.610-0.760 EPS. On average, equities research analysts forecast that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Tuesday, August 12th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.32 annualized dividend and a yield of 1.9%. Dolby Laboratories’s dividend payout ratio is 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.