Disciplined Growth Investors Inc. MN Raises Position in Dolby Laboratories, Inc. (NYSE:DLB)

Disciplined Growth Investors Inc. MN lifted its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,402,623 shares of the electronics maker’s stock after buying an additional 10,852 shares during the quarter. Dolby Laboratories accounts for approximately 2.1% of Disciplined Growth Investors Inc. MN’s holdings, making the stock its 18th largest holding. Disciplined Growth Investors Inc. MN’s holdings in Dolby Laboratories were worth $111,130,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mather Group LLC. purchased a new position in Dolby Laboratories in the 1st quarter valued at about $33,000. Blue Trust Inc. lifted its stake in shares of Dolby Laboratories by 398.8% in 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 in the last quarter. Quarry LP purchased a new position in Dolby Laboratories in the fourth quarter valued at about $37,000. Point72 Hong Kong Ltd acquired a new stake in Dolby Laboratories during the 2nd quarter valued at approximately $37,000. Finally, GAMMA Investing LLC grew its stake in Dolby Laboratories by 64.6% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 192 shares in the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories Stock Performance

NYSE:DLB opened at $75.61 on Friday. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 38.58 and a beta of 0.97. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $90.06. The stock has a 50-day simple moving average of $72.80 and a 200 day simple moving average of $77.99.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $286.26 million. On average, equities research analysts forecast that Dolby Laboratories, Inc. will post 2.72 EPS for the current fiscal year.

Dolby Laboratories announced that its board has authorized a stock repurchase program on Wednesday, August 7th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the electronics maker to buy up to 5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were given a $0.30 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. Dolby Laboratories’s payout ratio is currently 61.22%.

Analysts Set New Price Targets

DLB has been the subject of several research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 target price on shares of Dolby Laboratories in a research note 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.

About Dolby Laboratories

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.