MQS Management LLC Acquires Shares of 9,443 Dolby Laboratories, Inc. (NYSE:DLB)

MQS Management LLC acquired a new stake in Dolby Laboratories, Inc. (NYSE:DLB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,443 shares of the electronics maker’s stock, valued at approximately $748,000.

A number of other hedge funds and other institutional investors have also modified their holdings of DLB. Mather Group LLC. purchased a new stake in shares of Dolby Laboratories during the first quarter worth about $33,000. Blue Trust Inc. increased its position in shares of 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 last quarter. Quarry LP purchased a new stake in shares of Dolby Laboratories during the fourth quarter worth about $37,000. GAMMA Investing LLC increased its position in shares of Dolby Laboratories by 64.6% during the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 192 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its position in shares of Dolby Laboratories by 1,631.0% during the first quarter. Sunbelt Securities Inc. now owns 502 shares of the electronics maker’s stock worth $42,000 after acquiring an additional 473 shares during the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DLB shares. Rosenblatt Securities reiterated a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a research note on Friday, June 7th. Barrington Research reiterated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Friday, August 9th.

Dolby Laboratories Stock Up 1.1 %

Shares of DLB stock opened at $72.67 on Thursday. The business has a 50 day moving average of $73.75 and a two-hundred day moving average of $78.44. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06. The company has a market cap of $6.96 billion, a P/E ratio of 37.04 and a beta of 0.97.

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

Dolby Laboratories Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.65%. Dolby Laboratories’s dividend payout ratio is presently 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.