Marshall Wace LLP Purchases Shares of 77,377 Dolby Laboratories, Inc. (NYSE:DLB)

Marshall Wace LLP acquired a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 77,377 shares of the electronics maker’s stock, valued at approximately $6,131,000. Marshall Wace LLP owned approximately 0.08% of Dolby Laboratories as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in DLB. Acadian Asset Management LLC increased its holdings in Dolby Laboratories by 39.8% in the second quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock valued at $51,698,000 after buying an additional 185,884 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Dolby Laboratories by 27.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after acquiring an additional 168,744 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Dolby Laboratories by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock valued at $544,711,000 after acquiring an additional 107,713 shares during the last quarter. Ninety One UK Ltd raised its position in shares of Dolby Laboratories by 2.6% during the 2nd quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker’s stock worth $185,791,000 after acquiring an additional 60,114 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Dolby Laboratories during the second quarter worth approximately $3,348,000. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Up 1.2 %

Shares of NYSE DLB opened at $76.53 on Tuesday. The stock has a market cap of $7.33 billion, a PE ratio of 39.05 and a beta of 0.97. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $90.06. The business has a 50-day moving average price of $72.73 and a 200 day moving average price of $77.89.

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

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

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were paid 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 1.57%. Dolby Laboratories’s dividend payout ratio (DPR) is 61.22%.

Wall Street Analyst Weigh In

DLB has been the topic of several recent analyst reports. 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 reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, September 20th.

Dolby Laboratories 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.