Algert Global LLC Makes New Investment in Dolby Laboratories, Inc. (NYSE:DLB)

Algert Global LLC purchased a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) in the second quarter, according to its most recent filing with the SEC. The firm purchased 32,122 shares of the electronics maker’s stock, valued at approximately $2,545,000.

Several other institutional investors have also modified their holdings of DLB. Mather Group LLC. purchased a new position in Dolby Laboratories in the 1st quarter valued at approximately $33,000. Blue Trust Inc. grew its holdings in Dolby Laboratories by 398.8% in the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 331 shares during the last quarter. Quarry LP purchased a new position in shares of Dolby Laboratories in the fourth quarter valued at $37,000. Point72 Hong Kong Ltd acquired a new position in shares of Dolby Laboratories during the 2nd quarter worth $37,000. Finally, GAMMA Investing LLC boosted its position in shares of Dolby Laboratories by 64.6% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock worth $39,000 after buying an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

DLB has been the subject of a number of research reports. Barrington Research restated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, September 20th. Rosenblatt Securities restated 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 Trading Down 0.9 %

Dolby Laboratories stock opened at $75.85 on Wednesday. The stock has a market cap of $7.27 billion, a PE ratio of 38.70 and a beta of 0.97. The stock has a 50-day moving average price of $72.67 and a 200 day moving average price of $77.84. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 16.87% and a return on equity of 10.66%. On average, equities analysts predict that Dolby Laboratories, Inc. will post 2.72 EPS for the current year.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Monday, August 19th. Dolby Laboratories’s dividend payout ratio is presently 61.22%.

Dolby Laboratories announced that its Board of Directors has approved a share buyback plan on Wednesday, August 7th that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the electronics maker to buy up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.