Ninety One North America Inc. Has $9.14 Million Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Ninety One North America Inc. boosted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,001 shares of the electronics maker’s stock after buying an additional 3,024 shares during the period. Ninety One North America Inc. owned approximately 0.11% of Dolby Laboratories worth $9,135,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of DLB. Quarry LP increased its position in Dolby Laboratories by 248.2% in the 2nd quarter. Quarry LP now owns 296 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 211 shares during the last quarter. VisionPoint Advisory Group LLC increased its position in Dolby Laboratories by 86.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 172 shares during the last quarter. Blue Trust Inc. increased its position in Dolby Laboratories by 75.7% in the 4th quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 159 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Dolby Laboratories by 52.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 400 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 138 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in Dolby Laboratories by 175.3% in the 3rd quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 284 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in 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 upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd.

Insider Buying and Selling

In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of Dolby Laboratories stock in a transaction on Friday, February 9th. The stock was sold at an average price of $80.81, for a total value of $2,711,983.60. Following the completion of the transaction, the senior vice president now owns 108,519 shares in the company, valued at approximately $8,769,420.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 39.54% of the stock is owned by corporate insiders.

Dolby Laboratories Stock Performance

Shares of NYSE:DLB traded up $0.06 during trading on Thursday, hitting $78.04. 76,112 shares of the stock were exchanged, compared to its average volume of 371,216. Dolby Laboratories, Inc. has a 1-year low of $75.87 and a 1-year high of $91.01. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 40.40 and a beta of 0.97. The company’s fifty day simple moving average is $81.67 and its 200-day simple moving average is $83.37.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, topping the consensus estimate of $0.62 by $0.14. The business had revenue of $315.57 million during 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, research analysts forecast that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were given a dividend of $0.30 per share. The ex-dividend date was Monday, February 12th. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 62.18%.

Dolby Laboratories Profile

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.