1,841 Shares in Dolby Laboratories, Inc. (NYSE:DLB) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC bought a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,841 shares of the electronics maker’s stock, valued at approximately $146,000.

Several other large investors have also recently made changes to their positions in DLB. Vanguard Group Inc. raised its stake in Dolby Laboratories by 1.7% during the first quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock valued at $544,711,000 after buying an additional 107,713 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of Dolby Laboratories by 2.6% during the second quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker’s stock valued at $185,791,000 after acquiring an additional 60,114 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of Dolby Laboratories by 0.8% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,402,623 shares of the electronics maker’s stock worth $111,130,000 after purchasing an additional 10,852 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Dolby Laboratories by 3.5% in the 2nd quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker’s stock worth $80,041,000 after purchasing an additional 33,848 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Dolby Laboratories by 27.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock valued at $62,817,000 after purchasing an additional 168,744 shares in the last quarter. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Dolby Laboratories Price Performance

DLB stock opened at $73.48 on Wednesday. The stock has a market capitalization of $7.04 billion, a P/E ratio of 37.49 and a beta of 0.97. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $90.06. The business has a fifty day moving average price of $72.19 and a 200-day moving average price of $77.20.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.14. The business had revenue of $288.82 million for the quarter, compared to analysts’ expectations of $286.26 million. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. As a group, analysts anticipate that Dolby Laboratories, Inc. will post 2.72 earnings per share for the current year.

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

Dolby Laboratories Announces Dividend

The business also recently announced 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. The ex-dividend date was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.63%. Dolby Laboratories’s dividend payout ratio is presently 61.22%.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note 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.