Dolby Laboratories, Inc. (NYSE:DLB) Shares Purchased by AGF Management Ltd.

AGF Management Ltd. lifted its position in Dolby Laboratories, Inc. (NYSE:DLB) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,245 shares of the electronics maker’s stock after acquiring an additional 1,154 shares during the period. AGF Management Ltd.’s holdings in Dolby Laboratories were worth $2,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Prudential PLC boosted its stake in shares of Dolby Laboratories by 0.8% in the second quarter. Prudential PLC now owns 24,078 shares of the electronics maker’s stock worth $1,908,000 after acquiring an additional 193 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Dolby Laboratories in the second quarter worth approximately $973,000. Acadian Asset Management LLC boosted its stake in shares of Dolby Laboratories by 39.8% in the second quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock worth $51,698,000 after acquiring an additional 185,884 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Dolby Laboratories by 2.6% in the second quarter. Arizona State Retirement System now owns 16,655 shares of the electronics maker’s stock worth $1,320,000 after acquiring an additional 423 shares during the last quarter. Finally, Fiera Capital Corp boosted its stake in shares of Dolby Laboratories by 1.2% in the second quarter. Fiera Capital Corp now owns 568,327 shares of the electronics maker’s stock worth $45,029,000 after acquiring an additional 6,564 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock opened at $71.71 on Friday. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $90.06. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 36.58 and a beta of 0.97. The business’s 50 day moving average price is $74.04 and its 200 day moving average price is $78.62.

Dolby Laboratories (NYSE:DLB) last posted its earnings results 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 return on equity of 10.66% and a net margin of 16.87%. The company had revenue of $288.82 million for the quarter, compared to the consensus estimate of $286.26 million. On average, analysts predict that Dolby Laboratories, Inc. will post 2.72 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a $0.30 dividend. 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 1.67%. Dolby Laboratories’s dividend payout ratio is currently 61.22%.

Analysts Set New Price Targets

DLB has been the topic of a number of analyst reports. Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, August 9th. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a research report on Friday, June 7th.

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.