Mitchell & Pahl Private Wealth LLC Purchases 209 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Mitchell & Pahl Private Wealth LLC increased its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,026 shares of the electronics maker’s stock after acquiring an additional 209 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Dolby Laboratories were worth $1,073,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DLB. Vanguard Group Inc. grew its stake in 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 purchasing an additional 107,713 shares during the period. Ninety One UK Ltd boosted its holdings in shares of Dolby Laboratories by 2.6% in the 2nd quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker’s stock worth $185,791,000 after buying an additional 60,114 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in Dolby Laboratories by 0.8% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,402,623 shares of the electronics maker’s stock valued at $111,130,000 after purchasing an additional 10,852 shares during the period. Mackenzie Financial Corp raised its stake in Dolby Laboratories by 3.5% in the 2nd quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker’s stock valued at $80,041,000 after acquiring an additional 33,848 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Dolby Laboratories by 27.0% during the second 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. 58.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Friday, September 20th.

Dolby Laboratories Trading Down 0.3 %

Dolby Laboratories stock traded down $0.23 on Thursday, hitting $73.79. 41,398 shares of the stock traded hands, compared to its average volume of 409,507. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $90.06. The firm has a market cap of $7.07 billion, a P/E ratio of 37.77 and a beta of 0.97. The business’s fifty day simple moving average is $72.20 and its 200 day simple moving average is $77.18.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share 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 analysts’ expectations of $286.26 million. As a group, analysts predict that Dolby Laboratories, Inc. will post 2.72 earnings per share for the current 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 issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Monday, August 19th. Dolby Laboratories’s dividend payout ratio (DPR) is 61.22%.

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

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.