Boston Trust Walden Corp Raises Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Boston Trust Walden Corp raised its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 185.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,075,076 shares of the electronics maker’s stock after acquiring an additional 698,283 shares during the quarter. Boston Trust Walden Corp’s holdings in Dolby Laboratories were worth $82,276,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its stake in Dolby Laboratories by 398.8% in the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after buying an additional 331 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Dolby Laboratories in the second quarter valued at approximately $37,000. GAMMA Investing LLC lifted its position in shares of Dolby Laboratories by 64.6% in the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 192 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Dolby Laboratories by 1,631.0% in the first quarter. Sunbelt Securities Inc. now owns 502 shares of the electronics maker’s stock worth $42,000 after acquiring an additional 473 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Dolby Laboratories by 192.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock worth $46,000 after purchasing an additional 379 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

NYSE DLB traded up $0.27 during trading hours on Friday, hitting $72.79. 178,344 shares of the company’s stock traded hands, compared to its average volume of 405,687. The company has a market capitalization of $6.98 billion, a PE ratio of 37.14 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 firm’s 50-day moving average is $72.78 and its 200-day moving average is $76.76.

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

Dolby Laboratories Dividend Announcement

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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Monday, August 19th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 61.22%.

Dolby Laboratories declared that its board has authorized a share repurchase program on Wednesday, August 7th that allows the company to buyback $350.00 million in shares. This buyback authorization allows the electronics maker to purchase up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Friday, September 20th.

Insider Transactions at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the completion of the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at approximately $6,205,400.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 39.54% of the company’s stock.

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.