Bank of New York Mellon Corp Sells 732,526 Shares of Dolby Laboratories $DLB

Bank of New York Mellon Corp lessened its position in shares of Dolby Laboratories (NYSE:DLB) by 14.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 4,499,820 shares of the electronics maker’s stock after selling 732,526 shares during the period. Bank of New York Mellon Corp’s holdings in Dolby Laboratories were worth $270,259,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DLB. Boothbay Fund Management LLC increased its stake in shares of Dolby Laboratories by 4.1% in the 2nd quarter. Boothbay Fund Management LLC now owns 4,020 shares of the electronics maker’s stock valued at $299,000 after acquiring an additional 157 shares in the last quarter. Covestor Ltd increased its holdings in shares of Dolby Laboratories by 6.0% during the fourth quarter. Covestor Ltd now owns 3,088 shares of the electronics maker’s stock valued at $198,000 after acquiring an additional 175 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Dolby Laboratories by 34.7% during the fourth quarter. Fifth Third Bancorp now owns 746 shares of the electronics maker’s stock worth $48,000 after purchasing an additional 192 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Dolby Laboratories by 1.4% in the 1st quarter. State of Michigan Retirement System now owns 14,700 shares of the electronics maker’s stock worth $883,000 after purchasing an additional 200 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of Dolby Laboratories by 1.0% in the 2nd quarter. Raymond James Financial Inc. now owns 24,344 shares of the electronics maker’s stock worth $1,808,000 after purchasing an additional 235 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Trading Down 2.0%

DLB stock opened at $48.97 on Friday. The stock has a market cap of $4.63 billion, a P/E ratio of 19.36 and a beta of 0.81. The stock’s fifty day simple moving average is $52.91 and its two-hundred day simple moving average is $59.48. Dolby Laboratories has a 1-year low of $48.26 and a 1-year high of $77.00.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Thursday, April 30th. The electronics maker reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.06. The firm had revenue of $395.63 million during the quarter, compared to analyst estimates of $385.80 million. Dolby Laboratories had a return on equity of 11.47% and a net margin of 17.85%.The business’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $1.34 EPS. Dolby Laboratories has set its FY 2026 guidance at 4.300-4.450 EPS and its Q3 2026 guidance at 0.560-0.710 EPS. As a group, analysts forecast that Dolby Laboratories will post 3.21 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Tuesday, May 12th were given a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $1.44 annualized dividend and a yield of 2.9%. Dolby Laboratories’s payout ratio is currently 56.92%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DLB shares. Wall Street Zen upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Barrington Research reissued an “outperform” rating and set a $90.00 target price on shares of Dolby Laboratories in a research report on Monday, June 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Dolby Laboratories in a report on Wednesday, June 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price target on shares of Dolby Laboratories in a research report on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.75.

Insider Activity at Dolby Laboratories

In other news, CMO Todd Pendleton sold 11,876 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $54.55, for a total transaction of $647,835.80. Following the completion of the sale, the chief marketing officer owned 41,480 shares in the company, valued at $2,262,734. This trade represents a 22.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert J. Park sold 4,895 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.68, for a total transaction of $277,448.60. Following the completion of the sale, the chief financial officer directly owned 81,490 shares in the company, valued at $4,618,853.20. This trade represents a 5.67% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 47,458 shares of company stock worth $2,639,537. Insiders own 37.93% of the company’s stock.

About Dolby Laboratories

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.