Ameritas Investment Partners Inc. Has $1.82 Million Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Ameritas Investment Partners Inc. lowered its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 1.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,009 shares of the electronics maker’s stock after selling 441 shares during the period. Ameritas Investment Partners Inc.’s holdings in Dolby Laboratories were worth $1,823,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. NEOS Investment Management LLC lifted its holdings in Dolby Laboratories by 5.0% in the 4th quarter. NEOS Investment Management LLC now owns 2,709 shares of the electronics maker’s stock worth $233,000 after purchasing an additional 129 shares during the last quarter. First Affirmative Financial Network lifted its stake in shares of Dolby Laboratories by 4.9% in the second quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker’s stock worth $219,000 after buying an additional 129 shares during the last quarter. LRI Investments LLC boosted its holdings in shares of Dolby Laboratories by 6.0% during the 2nd quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock worth $182,000 after buying an additional 130 shares during the period. Signaturefd LLC grew its stake in Dolby Laboratories by 5.1% in the 2nd quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock valued at $251,000 after buying an additional 153 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC raised its holdings in Dolby Laboratories by 1.3% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock worth $1,095,000 after acquiring an additional 174 shares during the period. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

NYSE:DLB opened at $73.26 on Monday. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $90.06. The company has a fifty day moving average price of $73.35 and a 200 day moving average price of $78.25. The stock has a market cap of $7.02 billion, a P/E ratio of 37.38 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.14. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. The business had revenue of $288.82 million during the quarter, compared to analyst estimates of $286.26 million. As a group, equities research analysts anticipate that Dolby Laboratories, Inc. will post 2.72 EPS for the current year.

Dolby Laboratories declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 7th that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the electronics maker to purchase up to 5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Monday, August 19th. Dolby Laboratories’s dividend payout ratio is presently 61.22%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a research report on Friday, June 7th. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Friday.

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.