Dolby Laboratories $DLB Shares Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co grew its holdings in shares of Dolby Laboratories (NYSE:DLB) by 119.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,432 shares of the electronics maker’s stock after buying an additional 21,980 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Dolby Laboratories were worth $2,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in DLB. Vanguard Group Inc. raised its position in shares of Dolby Laboratories by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,756,924 shares of the electronics maker’s stock worth $561,369,000 after acquiring an additional 203,411 shares in the last quarter. State Street Corp increased its stake in Dolby Laboratories by 8.7% in the second quarter. State Street Corp now owns 2,261,059 shares of the electronics maker’s stock valued at $167,906,000 after purchasing an additional 180,072 shares during the last quarter. AQR Capital Management LLC raised its holdings in Dolby Laboratories by 51.8% during the second quarter. AQR Capital Management LLC now owns 1,736,260 shares of the electronics maker’s stock worth $128,935,000 after purchasing an additional 592,282 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Dolby Laboratories by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,556,571 shares of the electronics maker’s stock worth $116,159,000 after buying an additional 30,057 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of Dolby Laboratories by 2.3% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,237,667 shares of the electronics maker’s stock valued at $91,909,000 after buying an additional 28,243 shares in the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories Stock Down 0.6%

NYSE DLB opened at $64.74 on Wednesday. The firm has a market cap of $6.19 billion, a P/E ratio of 26.10 and a beta of 0.84. Dolby Laboratories has a 52-week low of $60.14 and a 52-week high of $84.15. The business’s 50-day moving average price is $64.27 and its 200 day moving average price is $67.40.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Thursday, January 29th. The electronics maker reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. The firm had revenue of $346.71 million during the quarter, compared to the consensus estimate of $341.26 million. Dolby Laboratories had a return on equity of 11.50% and a net margin of 17.97%.The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. As a group, analysts anticipate that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, February 10th. Dolby Laboratories’s payout ratio is currently 58.06%.

Analyst Ratings Changes

Several equities research analysts recently commented on DLB shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Dolby Laboratories in a research note on Monday, December 29th. Wall Street Zen cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Barrington Research decreased their target price on Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, January 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Dolby Laboratories in a research report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.75.

Insider Buying and Selling

In other news, SVP Shriram Revankar sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $66.14, for a total value of $198,420.00. Following the completion of the sale, the senior vice president owned 83,218 shares in the company, valued at approximately $5,504,038.52. This trade represents a 3.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Andrew Sherman sold 9,109 shares of Dolby Laboratories stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $66.73, for a total transaction of $607,843.57. Following the completion of the sale, the executive vice president directly owned 73,054 shares in the company, valued at approximately $4,874,893.42. The trade was a 11.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 92,424 shares of company stock worth $6,196,501 in the last ninety days. Insiders own 37.93% of the company’s stock.

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.