NEOS Investment Management LLC Acquires 129 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

NEOS Investment Management LLC lifted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLBFree Report) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,709 shares of the electronics maker’s stock after purchasing an additional 129 shares during the quarter. NEOS Investment Management LLC’s holdings in Dolby Laboratories were worth $233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in 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 acquiring an additional 205,319 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Dolby Laboratories by 4.8% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock valued at $415,808,000 after purchasing an additional 239,578 shares in the last quarter. Morgan Stanley grew its stake in Dolby Laboratories by 11.9% during the third quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock worth $388,556,000 after buying an additional 523,250 shares in the last quarter. Ninety One UK Ltd increased its holdings in Dolby Laboratories by 29.0% in the 4th quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock valued at $221,685,000 after buying an additional 578,239 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Dolby Laboratories by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 681,152 shares of the electronics maker’s stock valued at $58,702,000 after buying an additional 10,389 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Price Performance

Shares of NYSE:DLB opened at $80.01 on Friday. Dolby Laboratories, Inc. has a one year low of $75.87 and a one year high of $91.01. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 40.82 and a beta of 0.99. The firm has a 50 day simple moving average of $80.92 and a 200 day simple moving average of $82.94.

Dolby Laboratories (NYSE:DLBGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The electronics maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. Dolby Laboratories had a return on equity of 10.15% and a net margin of 15.00%. The company had revenue of $364.52 million for the quarter, compared to analysts’ expectations of $361.98 million. As a group, analysts expect that Dolby Laboratories, Inc. will post 2.68 EPS for the current year.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.50%. The ex-dividend date was Monday, May 13th. Dolby Laboratories’s dividend payout ratio is currently 61.22%.

Analyst Ratings Changes

DLB has been the topic of several analyst reports. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th. Barrington Research upgraded Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research note on Monday. Finally, Rosenblatt Securities restated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a research report on Monday, April 29th.

Check Out Our Latest Report on Dolby Laboratories

Insiders Place Their Bets

In other news, EVP Mark Andrew Sherman sold 2,283 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $79.62, for a total value of $181,772.46. Following the completion of the sale, the executive vice president now owns 58,325 shares of the company’s stock, valued at $4,643,836.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 39.54% of the company’s stock.

Dolby Laboratories Company Profile

(Free Report)

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.

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

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