Public Employees Retirement System of Ohio Acquires New Position in Dolby Laboratories $DLB

Public Employees Retirement System of Ohio acquired a new stake in shares of Dolby Laboratories (NYSE:DLB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,086 shares of the electronics maker’s stock, valued at approximately $951,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in shares of Dolby Laboratories in the 2nd quarter valued at $253,289,000. Wedge Capital Management L L P NC grew its position in Dolby Laboratories by 53.2% in the second quarter. Wedge Capital Management L L P NC now owns 77,380 shares of the electronics maker’s stock valued at $4,069,000 after acquiring an additional 26,860 shares during the last quarter. Handelsbanken Fonder AB grew its position in Dolby Laboratories by 31.0% in the second quarter. Handelsbanken Fonder AB now owns 23,216 shares of the electronics maker’s stock valued at $1,221,000 after acquiring an additional 5,500 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Dolby Laboratories by 88.9% during the second quarter. Assenagon Asset Management S.A. now owns 104,202 shares of the electronics maker’s stock worth $5,479,000 after acquiring an additional 49,044 shares in the last quarter. Finally, CX Institutional raised its stake in Dolby Laboratories by 14.4% during the second quarter. CX Institutional now owns 12,727 shares of the electronics maker’s stock worth $669,000 after acquiring an additional 1,605 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Barrington Research reissued an “outperform” rating and issued a $90.00 price objective on shares of Dolby Laboratories in a research note on Monday, June 15th. Weiss Ratings lowered shares of Dolby Laboratories from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Dolby Laboratories in a research note on Friday, August 28th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $87.50.

Dolby Laboratories Trading Up 0.5%

Shares of DLB stock opened at $62.28 on Wednesday. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 26.50 and a beta of 0.80. The business’s 50-day moving average price is $56.97 and its 200-day moving average price is $58.24. Dolby Laboratories has a 12 month low of $48.26 and a 12 month high of $73.78.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, July 30th. The electronics maker reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. Dolby Laboratories had a net margin of 16.70% and a return on equity of 11.08%. The business had revenue of $305.00 million during the quarter, compared to analyst estimates of $311.96 million. During the same quarter last year, the business earned $0.78 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. Dolby Laboratories has set its FY 2026 guidance at 4.250-4.400 EPS and its Q4 2026 guidance at 1.130-1.280 EPS. On average, sell-side analysts predict that Dolby Laboratories will post 3.23 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Tuesday, August 11th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, August 11th. Dolby Laboratories’s payout ratio is currently 61.28%.

Dolby Laboratories announced that its Board of Directors has authorized a share buyback program on Thursday, July 30th that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the electronics maker to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, SVP Shriram Revankar sold 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $62.71, for a total value of $188,130.00. Following the sale, the senior vice president directly owned 73,274 shares of the company’s stock, valued at approximately $4,595,012.54. This represents a 3.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Ryan Nicholson sold 1,183 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $65.28, for a total transaction of $77,226.24. Following the sale, the chief accounting officer directly owned 34,453 shares in the company, valued at $2,249,091.84. This trade represents a 3.32% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 28,889 shares of company stock valued at $1,706,606. 37.93% of the stock is currently owned by insiders.

About Dolby Laboratories

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.