Truist Financial Corp Reduces Position in Dolby Laboratories $DLB

Truist Financial Corp cut its holdings in shares of Dolby Laboratories (NYSE:DLB) by 7.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,615 shares of the electronics maker’s stock after selling 888 shares during the quarter. Truist Financial Corp’s holdings in Dolby Laboratories were worth $863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Dolby Laboratories by 7.1% in the first 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 shares of Dolby Laboratories by 18.3% in the first 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 shares of Dolby Laboratories by 17.9% in the first 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 shares of Dolby Laboratories by 63.6% in the first 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 shares of Dolby Laboratories by 0.6% in the first 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 owned by hedge funds and other institutional investors.

Dolby Laboratories Price Performance

Shares of NYSE DLB opened at $68.80 on Tuesday. Dolby Laboratories has a one year low of $67.83 and a one year high of $89.66. The firm’s 50 day simple moving average is $72.14 and its two-hundred day simple moving average is $73.94. The stock has a market capitalization of $6.59 billion, a P/E ratio of 25.20 and a beta of 0.92.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. The business had revenue of $315.55 million for the quarter, compared to analysts’ expectations of $305.23 million. During the same period last year, the business earned $0.71 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. 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, equities analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Tuesday, August 12th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, August 12th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.35%.

Insider Buying and Selling

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $72.31, for a total transaction of $1,807,750.00. Following the transaction, the chief executive officer directly owned 114,725 shares in the company, valued at $8,295,764.75. This trade represents a 17.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Shriram Revankar sold 7,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $74.92, for a total transaction of $524,440.00. Following the transaction, the senior vice president owned 70,435 shares in the company, valued at $5,276,990.20. The trade was a 9.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,491 shares of company stock worth $4,310,515 over the last quarter. Company insiders own 38.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Baird R W raised shares of Dolby Laboratories to a “hold” rating in a report on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Dolby Laboratories in a report on Wednesday, October 8th. Rosenblatt Securities restated a “buy” rating and issued a $95.00 price objective on shares of Dolby Laboratories in a research report on Friday, August 1st. Robert W. Baird began 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. Finally, Wall Street Zen upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.75.

About Dolby Laboratories

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.