Dolby Laboratories, Inc. (NYSE:DLB) Position Trimmed by Quilter Plc

Quilter Plc decreased its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 22.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,889 shares of the electronics maker’s stock after selling 6,221 shares during the quarter. Quilter Plc’s holdings in Dolby Laboratories were worth $1,655,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. NEOS Investment Management LLC grew its holdings in shares of Dolby Laboratories by 5.0% during the 4th quarter. NEOS Investment Management LLC now owns 2,709 shares of the electronics maker’s stock valued at $233,000 after acquiring an additional 129 shares in the last quarter. First Affirmative Financial Network boosted its position in Dolby Laboratories by 4.9% during the second quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker’s stock valued at $219,000 after purchasing an additional 129 shares during the last quarter. LRI Investments LLC grew its stake in Dolby Laboratories by 6.0% in the second quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock valued at $182,000 after purchasing an additional 130 shares in the last quarter. Signaturefd LLC increased its position in Dolby Laboratories by 5.1% in the 2nd quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock worth $251,000 after purchasing an additional 153 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC raised its stake in shares of Dolby Laboratories by 1.3% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock worth $1,095,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DLB shares. Rosenblatt Securities restated a “buy” rating and issued a $98.00 price objective on shares of Dolby Laboratories in a report on Friday, June 7th. Barrington Research restated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Friday, August 9th.

Dolby Laboratories Stock Performance

Shares of NYSE DLB opened at $71.70 on Monday. The business’s 50-day simple moving average is $74.04 and its 200-day simple moving average is $78.58. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 36.58 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.33 by $0.14. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. The company had revenue of $288.82 million for the quarter, compared to the consensus estimate of $286.26 million. As a group, equities research analysts forecast that Dolby Laboratories, Inc. will post 2.72 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Monday, August 19th. Dolby Laboratories’s dividend payout ratio is 61.22%.

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.