Swiss National Bank lowered its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,500 shares of the electronics maker’s stock after selling 500 shares during the period. Swiss National Bank owned about 0.14% of Dolby Laboratories worth $14,132,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. NEXT Financial Group Inc boosted its stake in Dolby Laboratories by 69.2% during the fourth quarter. NEXT Financial Group Inc now owns 269 shares of the electronics maker’s stock worth $26,000 after buying an additional 110 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Dolby Laboratories by 1.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,531 shares of the electronics maker’s stock worth $829,000 after buying an additional 124 shares in the last quarter. US Bancorp DE boosted its stake in Dolby Laboratories by 2.6% during the fourth quarter. US Bancorp DE now owns 5,144 shares of the electronics maker’s stock worth $500,000 after buying an additional 129 shares in the last quarter. Radnor Capital Management LLC boosted its stake in shares of Dolby Laboratories by 3.4% in the 3rd quarter. Radnor Capital Management LLC now owns 4,310 shares of the electronics maker’s stock valued at $286,000 after purchasing an additional 140 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of Dolby Laboratories by 0.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 50,535 shares of the electronics maker’s stock valued at $4,908,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.
Several brokerages have recently commented on DLB. Zacks Investment Research upgraded shares of Dolby Laboratories from a “strong sell” rating to a “hold” rating and set a $100.00 target price on the stock in a research note on Wednesday, January 13th. Barrington Research downgraded shares of Dolby Laboratories from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 26th. Finally, B. Riley boosted their target price on shares of Dolby Laboratories from $79.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, January 29th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $84.25.
Dolby Laboratories stock opened at $93.68 on Tuesday. The stock has a 50-day simple moving average of $93.32 and a 200 day simple moving average of $81.48. Dolby Laboratories, Inc. has a 12-month low of $44.68 and a 12-month high of $97.78. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of 41.64, a P/E/G ratio of 3.27 and a beta of 0.89.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Thursday, January 28th. The electronics maker reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.62. Dolby Laboratories had a return on equity of 9.89% and a net margin of 19.91%. The business had revenue of $389.87 million during the quarter, compared to analysts’ expectations of $345.33 million. During the same period in the previous year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was up 33.6% compared to the same quarter last year. Equities analysts predict that Dolby Laboratories, Inc. will post 2.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 19th. Investors of record on Tuesday, February 9th were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, February 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.94%. Dolby Laboratories’s dividend payout ratio is 38.26%.
About Dolby Laboratories
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. 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 media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and a range of media devices.
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