Dolby Laboratories $DLB Stake Cut by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in Dolby Laboratories (NYSE:DLB) by 12.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 143,043 shares of the electronics maker’s stock after selling 20,574 shares during the quarter. California Public Employees Retirement System’s holdings in Dolby Laboratories were worth $8,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in DLB. Gallacher Capital Management LLC boosted its holdings in shares of Dolby Laboratories by 43.1% during the first quarter. Gallacher Capital Management LLC now owns 8,557 shares of the electronics maker’s stock worth $514,000 after purchasing an additional 2,577 shares during the period. Twin Capital Management Inc. purchased a new stake in Dolby Laboratories in the 1st quarter worth approximately $993,000. Illinois Municipal Retirement Fund boosted its stake in shares of Dolby Laboratories by 33.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 42,933 shares of the electronics maker’s stock valued at $2,579,000 after buying an additional 10,871 shares during the period. Signet Financial Management LLC purchased a new position in shares of Dolby Laboratories during the 1st quarter valued at $231,000. Finally, Sanctuary Advisors LLC grew its holdings in shares of Dolby Laboratories by 8.9% during the 1st quarter. Sanctuary Advisors LLC now owns 8,022 shares of the electronics maker’s stock valued at $482,000 after acquiring an additional 657 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Up 1.3%

DLB stock opened at $49.80 on Friday. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 19.68 and a beta of 0.81. Dolby Laboratories has a 12 month low of $48.26 and a 12 month high of $76.70. The firm has a 50 day moving average of $52.36 and a two-hundred day moving average of $58.96.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, April 30th. The electronics maker reported $1.37 EPS for the quarter, topping the consensus estimate of $1.31 by $0.06. Dolby Laboratories had a net margin of 17.85% and a return on equity of 11.47%. The company had revenue of $395.63 million for the quarter, compared to analyst estimates of $385.80 million. During the same quarter in the prior year, the business posted $1.34 EPS. Dolby Laboratories’s quarterly revenue was up 7.0% on a year-over-year basis. 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. On average, research analysts expect that Dolby Laboratories will post 3.21 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

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

Insider Buying and Selling

In other Dolby Laboratories news, CMO Todd Pendleton sold 11,876 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $54.55, for a total value of $647,835.80. Following the completion of the sale, the chief marketing officer owned 41,480 shares of the company’s stock, valued at $2,262,734. The trade was a 22.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert J. Park sold 4,895 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $56.68, for a total value of $277,448.60. Following the sale, the chief financial officer owned 81,490 shares of the company’s stock, valued at approximately $4,618,853.20. This trade represents a 5.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 47,458 shares of company stock valued at $2,639,537 in the last three months. 37.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

DLB has been the subject of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a report on Thursday, June 11th. Barrington Research restated an “outperform” rating and issued a $90.00 target price on shares of Dolby Laboratories in a research note on Monday, June 15th. Wall Street Zen raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dolby Laboratories in a research note on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.75.

Dolby Laboratories Profile

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.