Vanguard Personalized Indexing Management LLC Purchases 3,279 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Vanguard Personalized Indexing Management LLC raised its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 49.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,895 shares of the electronics maker’s stock after purchasing an additional 3,279 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Dolby Laboratories were worth $778,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of DLB. Norges Bank bought a new position in Dolby Laboratories during the fourth quarter valued at $42,067,000. Bank of New York Mellon Corp grew its holdings in Dolby Laboratories by 11.2% during the first 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 during the period. Acadian Asset Management LLC grew its holdings in Dolby Laboratories by 39.8% during the second 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 during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Dolby Laboratories by 27.0% in the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after acquiring an additional 168,744 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Dolby Laboratories by 1.7% in the first quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock worth $544,711,000 after acquiring an additional 107,713 shares during the period. 58.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DLB. Rosenblatt Securities reaffirmed a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a report on Friday, June 7th. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Friday, September 20th.

Dolby Laboratories Price Performance

Dolby Laboratories stock opened at $74.30 on Wednesday. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $90.06. The business has a fifty day moving average price of $73.09 and a 200-day moving average price of $78.12. The firm has a market capitalization of $7.12 billion, a P/E ratio of 37.91 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.14. The company had revenue of $288.82 million during the quarter, compared to analyst estimates of $286.26 million. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. Sell-side analysts expect that Dolby Laboratories, Inc. will post 2.72 earnings per share for the current fiscal year.

Dolby Laboratories declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 7th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.62%. Dolby Laboratories’s payout ratio is 61.22%.

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.