Dolby Laboratories, Inc. (NYSE:DLB) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in shares of Dolby Laboratories, Inc. (NYSE:DLBGet Rating) by 39.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,037 shares of the electronics maker’s stock after purchasing an additional 3,685 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Dolby Laboratories were worth $849,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of DLB. National Bank of Canada FI purchased a new stake in Dolby Laboratories during the 3rd quarter worth about $26,000. Ronald Blue Trust Inc. increased its holdings in Dolby Laboratories by 89.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 374 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 177 shares during the period. First Horizon Advisors Inc. purchased a new stake in Dolby Laboratories during the 2nd quarter worth about $29,000. Zions Bancorporation N.A. purchased a new stake in Dolby Laboratories during the 1st quarter worth about $42,000. Finally, Venture Visionary Partners LLC purchased a new stake in Dolby Laboratories during the 2nd quarter worth about $57,000. Hedge funds and other institutional investors own 82.30% of the company’s stock.

Insider Buying and Selling

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 5,070 shares of the stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $69.84, for a total transaction of $354,088.80. Following the completion of the sale, the executive vice president now directly owns 60,425 shares of the company’s stock, valued at approximately $4,220,082. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 39.25% of the stock is currently owned by company insiders.

Dolby Laboratories Stock Performance

DLB opened at $78.29 on Monday. The business’s 50-day simple moving average is $72.27 and its 200-day simple moving average is $71.95. The company has a market cap of $7.51 billion, a P/E ratio of 43.49, a PEG ratio of 2.05 and a beta of 0.98. Dolby Laboratories, Inc. has a one year low of $61.55 and a one year high of $88.59.

Dolby Laboratories (NYSE:DLBGet Rating) last released its quarterly earnings results on Thursday, November 17th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.14). The firm had revenue of $278.20 million for the quarter, compared to analysts’ expectations of $303.58 million. Dolby Laboratories had a return on equity of 9.19% and a net margin of 14.68%. As a group, analysts predict that Dolby Laboratories, Inc. will post 2.39 earnings per share for the current fiscal year.

Dolby Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 8th. Investors of record on Wednesday, November 30th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Tuesday, November 29th. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.25. Dolby Laboratories’s dividend payout ratio (DPR) is currently 60.00%.

Wall Street Analysts Forecast Growth

DLB has been the topic of several recent research reports. Barrington Research downgraded Dolby Laboratories from an “outperform” rating to a “market perform” rating in a report on Friday, November 18th. Rosenblatt Securities dropped their price objective on Dolby Laboratories from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, November 7th. downgraded Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Monday, November 21st. Finally, Tigress Financial dropped their price objective on Dolby Laboratories from $128.00 to $116.00 and set a “buy” rating on the stock in a report on Friday, October 14th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Dolby Laboratories has an average rating of “Moderate Buy” and an average price target of $97.00.

Dolby Laboratories Company Profile

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Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. 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.

See Also

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Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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