Equitable Trust Co. Increases Holdings in Dolby Laboratories $DLB

by · The Cerbat Gem

Equitable Trust Co. lifted its position in shares of Dolby Laboratories (NYSE:DLB – Free Report) by 3.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 5,567 shares of the electronics maker’s stock after buying an additional 177 shares during the period. Equitable Trust Co.’s holdings in Dolby Laboratories were worth $413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Boston Trust Walden Corp lifted its stake in Dolby Laboratories by 2.1% in the 2nd quarter. Boston Trust Walden Corp now owns 1,098,218 shares of the electronics maker’s stock valued at $81,554,000 after buying an additional 22,404 shares in the last quarter. TD Asset Management Inc lifted its stake in Dolby Laboratories by 41.5% in the 2nd quarter. TD Asset Management Inc now owns 16,700 shares of the electronics maker’s stock valued at $1,240,000 after buying an additional 4,900 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Dolby Laboratories in the 2nd quarter valued at approximately $550,000. Vest Financial LLC lifted its stake in Dolby Laboratories by 156.1% in the 2nd quarter. Vest Financial LLC now owns 28,942 shares of the electronics maker’s stock valued at $2,149,000 after buying an additional 17,640 shares in the last quarter. Finally, CWM LLC lifted its stake in Dolby Laboratories by 57.8% in the 2nd quarter. CWM LLC now owns 21,752 shares of the electronics maker’s stock valued at $1,615,000 after buying an additional 7,967 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Shriram Revankar sold 7,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $74.92, for a total transaction of $524,440.00. Following the completion of the sale, the senior vice president directly owned 70,435 shares in the company, valued at $5,276,990.20. This represents a 9.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kevin J. Yeaman sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $71.66, for a total value of $1,791,500.00. Following the sale, the chief executive officer owned 114,725 shares of the company’s stock, valued at approximately $8,221,193.50. The trade was a 17.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,000 shares of company stock valued at $4,123,690. Insiders own 38.39% of the company’s stock.

Analysts Set New Price Targets

DLB has been the topic of a number of recent research reports. Tigress Financial upped their target price on Dolby Laboratories from $112.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Wall Street Zen raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Robert W. Baird started coverage on Dolby Laboratories in a report on Friday, September 5th. They issued a “neutral” rating and a $74.00 price target for the company. Barrington Research reiterated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Friday, September 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Dolby Laboratories in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.75.

Get Our Latest Stock Report on Dolby Laboratories

Dolby Laboratories Stock Performance

Shares of DLB opened at $68.86 on Thursday. The stock has a fifty day moving average of $72.00 and a two-hundred day moving average of $73.88. The company has a market capitalization of $6.60 billion, a PE ratio of 25.22 and a beta of 0.92. Dolby Laboratories has a fifty-two week low of $67.54 and a fifty-two week high of $89.66.

Dolby Laboratories (NYSE:DLB – Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $315.55 million during the quarter, compared to the consensus estimate of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 EPS. Dolby Laboratories has set its FY 2025 guidance at 3.880-4.030 EPS. Q4 2025 guidance at 0.610-0.760 EPS. As a group, equities research analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, August 12th. Dolby Laboratories’s dividend payout ratio is presently 48.35%.

About Dolby Laboratories

(Free Report)

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.

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