American Century Companies Inc. Purchases 800 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

American Century Companies Inc. raised its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,148 shares of the electronics maker’s stock after buying an additional 800 shares during the period. American Century Companies Inc.’s holdings in Dolby Laboratories were worth $1,517,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lord Abbett & CO. LLC lifted its stake in shares of Dolby Laboratories by 9.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 266,672 shares of the electronics maker’s stock worth $22,339,000 after buying an additional 23,804 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Dolby Laboratories by 47.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 31,518 shares of the electronics maker’s stock worth $2,640,000 after purchasing an additional 10,202 shares in the last quarter. Vanguard Group Inc. raised its stake in Dolby Laboratories by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock worth $544,711,000 after purchasing an additional 107,713 shares in the last quarter. Boston Trust Walden Corp raised its stake in Dolby Laboratories by 3.1% in the 2nd quarter. Boston Trust Walden Corp now owns 376,793 shares of the electronics maker’s stock worth $29,853,000 after purchasing an additional 11,177 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in Dolby Laboratories in the 2nd quarter worth about $3,348,000. 58.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on DLB shares. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a report on Friday, June 7th. Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, September 20th.

Dolby Laboratories Stock Down 0.3 %

Dolby Laboratories stock opened at $75.61 on Monday. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $90.06. The firm’s fifty day moving average is $72.80 and its 200 day moving average is $77.94. The company has a market capitalization of $7.25 billion, a PE ratio of 38.58 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last announced its quarterly 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. The business had revenue of $288.82 million during the quarter, compared to analyst estimates of $286.26 million. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. Sell-side analysts expect that Dolby Laboratories, Inc. will post 2.72 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

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

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

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.