Federated Hermes Inc. Has $2.34 Million Position in Dolby Laboratories, Inc. (NYSE:DLB)

Federated Hermes Inc. cut its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 30.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,138 shares of the electronics maker’s stock after selling 11,888 shares during the quarter. Federated Hermes Inc.’s holdings in Dolby Laboratories were worth $2,339,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in Dolby Laboratories by 1.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,517 shares of the electronics maker’s stock valued at $754,000 after purchasing an additional 118 shares during the period. Treasurer of the State of North Carolina boosted its stake in Dolby Laboratories by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 26,817 shares of the electronics maker’s stock worth $2,126,000 after acquiring an additional 133 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in Dolby Laboratories by 1.4% during the fourth quarter. Bleakley Financial Group LLC now owns 9,444 shares of the electronics maker’s stock worth $814,000 after acquiring an additional 134 shares in the last quarter. Arizona State Retirement System boosted its stake in Dolby Laboratories by 0.8% during the third quarter. Arizona State Retirement System now owns 16,918 shares of the electronics maker’s stock worth $1,341,000 after acquiring an additional 139 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in Dolby Laboratories by 5.1% during the fourth quarter. Whittier Trust Co. now owns 3,223 shares of the electronics maker’s stock worth $278,000 after acquiring an additional 156 shares in the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DLB. StockNews.com raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Rosenblatt Securities reissued a “buy” rating and set a $98.00 price target on shares of Dolby Laboratories in a research report on Wednesday, January 31st.

Dolby Laboratories Trading Down 0.9 %

Shares of Dolby Laboratories stock opened at $79.20 on Monday. The firm has a market capitalization of $7.57 billion, a PE ratio of 41.04 and a beta of 0.97. The business’s 50-day moving average price is $81.62 and its 200-day moving average price is $83.32. Dolby Laboratories, Inc. has a 12 month low of $75.87 and a 12 month high of $91.01.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, beating the consensus estimate of $0.62 by $0.14. The firm had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.98 million. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. As a group, analysts predict that Dolby Laboratories, Inc. will post 2.6 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were given a dividend of $0.30 per share. The ex-dividend date was Monday, February 12th. This represents a $1.20 annualized dividend and a yield of 1.52%. Dolby Laboratories’s payout ratio is 62.18%.

Insider Buying and Selling

In other news, SVP John D. Couling sold 33,560 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the completion of the sale, the senior vice president now owns 108,519 shares of the company’s stock, valued at $8,769,420.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 39.54% of the stock is owned by corporate insiders.

Dolby Laboratories Company Profile

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.