Ninety One SA PTY Ltd Acquires New Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Ninety One SA PTY Ltd acquired a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 76,920 shares of the electronics maker’s stock, valued at approximately $6,646,000. Ninety One SA PTY Ltd owned approximately 0.08% of Dolby Laboratories at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky bought a new stake in Dolby Laboratories during the third quarter valued at approximately $1,610,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Dolby Laboratories during the fourth quarter valued at approximately $2,229,000. Envestnet Asset Management Inc. lifted its position in Dolby Laboratories by 64.0% during the third quarter. Envestnet Asset Management Inc. now owns 466,282 shares of the electronics maker’s stock valued at $36,958,000 after purchasing an additional 181,904 shares during the last quarter. Amalgamated Bank lifted its position in Dolby Laboratories by 331.3% during the third quarter. Amalgamated Bank now owns 41,227 shares of the electronics maker’s stock valued at $3,268,000 after purchasing an additional 31,668 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Dolby Laboratories by 115.5% during the fourth quarter. Pacer Advisors Inc. now owns 16,418 shares of the electronics maker’s stock valued at $1,415,000 after purchasing an additional 8,798 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Trading Up 0.1 %

Shares of DLB traded up $0.04 during mid-day trading on Thursday, reaching $78.02. The company’s stock had a trading volume of 128,604 shares, compared to its average volume of 371,889. The stock has a market cap of $7.46 billion, a PE ratio of 40.40 and a beta of 0.97. Dolby Laboratories, Inc. has a 52 week low of $75.87 and a 52 week high of $91.01. The company’s fifty day moving average price is $81.67 and its two-hundred day moving average price is $83.37.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.14. The firm had revenue of $315.57 million during the quarter, compared to analyst estimates of $310.98 million. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. Research analysts anticipate that Dolby Laboratories, Inc. will post 2.63 EPS for the current year.

Dolby Laboratories Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at approximately $8,769,420.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 39.54% of the stock is currently owned by company insiders.

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.