Synovus Financial Corp Decreases Holdings in Dolby Laboratories $DLB

Synovus Financial Corp trimmed its stake in shares of Dolby Laboratories (NYSE:DLB) by 81.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,052 shares of the electronics maker’s stock after selling 26,183 shares during the period. Synovus Financial Corp’s holdings in Dolby Laboratories were worth $486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Dolby Laboratories by 114.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,141 shares of the electronics maker’s stock valued at $975,000 after purchasing an additional 6,484 shares in the last quarter. Park Avenue Securities LLC purchased a new position in Dolby Laboratories during the first quarter valued at $222,000. Fiera Capital Corp lifted its holdings in Dolby Laboratories by 19.0% during the first quarter. Fiera Capital Corp now owns 639,404 shares of the electronics maker’s stock valued at $51,351,000 after purchasing an additional 102,028 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Dolby Laboratories by 7.1% during the first quarter. Vanguard Group Inc. now owns 7,535,722 shares of the electronics maker’s stock valued at $605,194,000 after purchasing an additional 502,110 shares in the last quarter. Finally, Vise Technologies Inc. purchased a new position in Dolby Laboratories during the fourth quarter valued at $308,000. 58.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 15,000 shares of Dolby Laboratories stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $75.02, for a total transaction of $1,125,300.00. Following the transaction, the executive vice president directly owned 62,397 shares of the company’s stock, valued at $4,681,022.94. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Shriram Revankar sold 7,000 shares of Dolby Laboratories stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $74.92, for a total transaction of $524,440.00. Following the sale, the senior vice president owned 70,435 shares of the company’s stock, valued at approximately $5,276,990.20. This represents a 9.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,049 shares of company stock valued at $11,045,581 over the last ninety days. Company insiders own 38.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Tigress Financial increased their target price on shares of Dolby Laboratories from $112.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Rosenblatt Securities reiterated a “buy” rating and issued a $95.00 target price on shares of Dolby Laboratories in a research report on Friday, August 1st. Barrington Research reiterated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, May 2nd. Finally, Wall Street Zen cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $103.00.

Dolby Laboratories Price Performance

Shares of DLB stock opened at $72.13 on Friday. The firm’s 50-day moving average is $74.25 and its two-hundred day moving average is $76.35. Dolby Laboratories has a 12 month low of $68.24 and a 12 month high of $89.66. The company has a market capitalization of $6.91 billion, a PE ratio of 26.42 and a beta of 0.91.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. The company had revenue of $315.55 million for the quarter, compared to the consensus estimate of $305.23 million. During the same period in the previous year, the firm earned $0.71 earnings per share. Dolby Laboratories’s quarterly revenue was up 9.2% compared to the same quarter last year. Dolby Laboratories has set its FY 2025 guidance at 3.880-4.030 EPS. Q4 2025 guidance at 0.610-0.760 EPS. Sell-side analysts forecast that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.8%. Dolby Laboratories’s payout ratio is 48.35%.

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.