nVerses Capital LLC Invests $261,000 in Dolby Laboratories, Inc. (NYSE:DLB)

nVerses Capital LLC bought a new stake in Dolby Laboratories, Inc. (NYSE:DLB) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 3,300 shares of the electronics maker’s stock, valued at approximately $261,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new stake in shares of Dolby Laboratories in the first quarter valued at approximately $33,000. Blue Trust Inc. raised its position in Dolby Laboratories by 398.8% during the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 331 shares during the period. Quarry LP purchased a new position in Dolby Laboratories during the fourth quarter valued at $37,000. GAMMA Investing LLC grew its position in shares of Dolby Laboratories by 64.6% in the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 192 shares during the period. Finally, Sunbelt Securities Inc. raised its position in shares of Dolby Laboratories by 1,631.0% during the 1st quarter. Sunbelt Securities Inc. now owns 502 shares of the electronics maker’s stock worth $42,000 after purchasing an additional 473 shares during the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, May 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a research note on Friday, June 7th. Finally, Barrington Research reissued an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, August 9th.

Dolby Laboratories Trading Down 0.3 %

Shares of NYSE DLB opened at $71.36 on Monday. The stock has a market cap of $6.80 billion, a PE ratio of 36.41 and a beta of 0.99. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $90.06. The company has a 50-day moving average of $75.97 and a 200 day moving average of $79.26.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share (EPS) 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 business had revenue of $288.82 million during the quarter, compared to analyst estimates of $286.26 million. On average, sell-side analysts forecast that Dolby Laboratories, Inc. will post 2.68 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.68%. Dolby Laboratories’s payout ratio is 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.