Parallel Advisors LLC Buys 301 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Parallel Advisors LLC lifted its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,856 shares of the electronics maker’s stock after purchasing an additional 301 shares during the quarter. Parallel Advisors LLC’s holdings in Dolby Laboratories were worth $543,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lord Abbett & CO. LLC boosted its position in shares of Dolby Laboratories by 9.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 266,672 shares of the electronics maker’s stock worth $22,339,000 after purchasing an additional 23,804 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Dolby Laboratories by 47.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 31,518 shares of the electronics maker’s stock worth $2,640,000 after purchasing an additional 10,202 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Dolby Laboratories by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock worth $544,711,000 after purchasing an additional 107,713 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of Dolby Laboratories by 3.1% during the 2nd quarter. Boston Trust Walden Corp now owns 376,793 shares of the electronics maker’s stock worth $29,853,000 after purchasing an additional 11,177 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new position in shares of Dolby Laboratories during the 2nd quarter worth about $3,348,000. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of NYSE DLB opened at $71.90 on Wednesday. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $90.06. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 36.68 and a beta of 0.97. The firm’s 50-day simple moving average is $73.89 and its 200 day simple moving average is $78.51.

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

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 annualized dividend and a yield of 1.67%. Dolby Laboratories’s dividend payout ratio (DPR) is 61.22%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DLB shares. 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 price target on shares of Dolby Laboratories in a research report on Friday, August 9th.

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.