MQS Management LLC Invests $748,000 in Dolby Laboratories, Inc. (NYSE:DLB)

MQS Management LLC bought a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,443 shares of the electronics maker’s stock, valued at approximately $748,000.

A number of other large investors have also modified their holdings of DLB. Norges Bank purchased a new position in Dolby Laboratories in the 4th quarter valued at approximately $42,067,000. Bank of New York Mellon Corp increased its stake in Dolby Laboratories by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 2,324,244 shares of the electronics maker’s stock valued at $194,702,000 after purchasing an additional 233,958 shares in the last quarter. Acadian Asset Management LLC increased its stake in Dolby Laboratories by 39.8% in the 2nd quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock valued at $51,698,000 after purchasing an additional 185,884 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Dolby Laboratories by 27.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock valued at $62,817,000 after purchasing an additional 168,744 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Dolby Laboratories by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock valued at $544,711,000 after purchasing an additional 107,713 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on DLB. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 target price on shares of Dolby Laboratories in a report on Friday, June 7th. Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a report on Friday, August 9th.

Dolby Laboratories Stock Up 1.1 %

DLB stock opened at $72.67 on Thursday. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $90.06. The stock’s fifty day simple moving average is $73.75 and its 200-day simple moving average is $78.44. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 37.04 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.14. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. The firm had revenue of $288.82 million for the quarter, compared to analysts’ expectations of $286.26 million. As a group, analysts anticipate that Dolby Laboratories, Inc. will post 2.72 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Monday, August 19th. Dolby Laboratories’s payout ratio is currently 61.22%.

Dolby Laboratories Company 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.