Ninety One UK Ltd Grows Position in Dolby Laboratories, Inc. (NYSE:DLB)

Ninety One UK Ltd increased its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 29.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,572,346 shares of the electronics maker’s stock after purchasing an additional 578,239 shares during the period. Ninety One UK Ltd’s holdings in Dolby Laboratories were worth $221,685,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Dolby Laboratories by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,389,084 shares of the electronics maker’s stock worth $506,399,000 after purchasing an additional 205,319 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Dolby Laboratories by 3.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,265,758 shares of the electronics maker’s stock valued at $449,801,000 after buying an additional 154,954 shares in the last quarter. Morgan Stanley lifted its holdings in Dolby Laboratories by 11.9% during the 3rd quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock valued at $388,556,000 after buying an additional 523,250 shares in the last quarter. BlackRock Inc. lifted its holdings in Dolby Laboratories by 1.6% during the 2nd quarter. BlackRock Inc. now owns 3,167,627 shares of the electronics maker’s stock valued at $265,067,000 after buying an additional 48,773 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Dolby Laboratories by 12.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,884,088 shares of the electronics maker’s stock valued at $149,333,000 after buying an additional 209,369 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 traded up $0.05 during trading hours on Thursday, hitting $78.03. The company’s stock had a trading volume of 87,316 shares, compared to its average volume of 371,280. Dolby Laboratories, Inc. has a 52 week low of $75.87 and a 52 week high of $91.01. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 40.40 and a beta of 0.97. The firm’s fifty day moving average price is $81.67 and its 200 day moving average price is $83.37.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, beating the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. The business had revenue of $315.57 million during the quarter, compared to analyst estimates of $310.98 million. On average, equities research analysts predict that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Tuesday, February 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. Dolby Laboratories’s dividend payout ratio is currently 62.18%.

Analysts Set New Price Targets

DLB has been the subject of a number of research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a report on Wednesday, January 31st. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Friday, February 2nd.

Insider Activity

In related news, SVP John D. Couling sold 33,560 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the completion of the transaction, the senior vice president now owns 108,519 shares in the company, valued at approximately $8,769,420.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 39.54% 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.