Ninety One UK Ltd Has $221.69 Million Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Ninety One UK Ltd raised its position in Dolby Laboratories, Inc. (NYSE:DLB) by 29.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,572,346 shares of the electronics maker’s stock after purchasing an additional 578,239 shares during the quarter. Ninety One UK Ltd owned 2.70% of Dolby Laboratories worth $221,685,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP raised its stake in shares of Dolby Laboratories by 248.2% in the 2nd quarter. Quarry LP now owns 296 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 211 shares during the period. Blue Trust Inc. increased its position in shares of Dolby Laboratories by 75.7% in the fourth quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 159 shares during the last quarter. VisionPoint Advisory Group LLC increased its position in shares of Dolby Laboratories by 86.9% in the third quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 172 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Dolby Laboratories by 52.7% in the first quarter. Tower Research Capital LLC TRC now owns 400 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 138 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Dolby Laboratories by 175.3% in the third quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 284 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

NYSE DLB traded up $0.05 during trading on Thursday, reaching $78.03. 87,316 shares of the company’s stock were exchanged, compared to its average volume of 371,280. The business has a 50 day moving average price of $81.67 and a 200-day moving average price of $83.37. The stock has a market capitalization of $7.46 billion, a P/E ratio of 40.40 and a beta of 0.97. Dolby Laboratories, Inc. has a fifty-two week low of $75.87 and a fifty-two week high of $91.01.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $310.98 million. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. On average, analysts forecast that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DLB. Rosenblatt Securities reaffirmed a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a research report on Wednesday, January 31st. StockNews.com raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd.

Insider Transactions at Dolby Laboratories

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

About Dolby Laboratories

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.