Wedge Capital Management L L P NC Acquires 26,860 Shares of Dolby Laboratories $DLB

Wedge Capital Management L L P NC raised its holdings in Dolby Laboratories (NYSE:DLB) by 53.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,380 shares of the electronics maker’s stock after purchasing an additional 26,860 shares during the period. Wedge Capital Management L L P NC owned 0.08% of Dolby Laboratories worth $4,069,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Paragon Capital Management Inc. bought a new stake in shares of Dolby Laboratories during the 1st quarter valued at $1,306,000. Teacher Retirement System of Texas boosted its stake in Dolby Laboratories by 19.1% in the 4th quarter. Teacher Retirement System of Texas now owns 115,772 shares of the electronics maker’s stock worth $7,435,000 after purchasing an additional 18,579 shares during the period. Hsbc Holdings PLC grew its holdings in Dolby Laboratories by 396.1% during the 1st quarter. Hsbc Holdings PLC now owns 31,259 shares of the electronics maker’s stock valued at $1,875,000 after buying an additional 24,958 shares in the last quarter. Norges Bank bought a new stake in shares of Dolby Laboratories during the fourth quarter valued at about $54,966,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Dolby Laboratories by 8.0% in the first quarter. Pacer Advisors Inc. now owns 516,292 shares of the electronics maker’s stock worth $31,008,000 after buying an additional 38,389 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

DLB stock opened at $62.34 on Friday. The firm has a 50 day simple moving average of $53.35 and a two-hundred day simple moving average of $58.45. The stock has a market cap of $5.84 billion, a PE ratio of 26.53 and a beta of 0.80. Dolby Laboratories has a one year low of $48.26 and a one year high of $75.66.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Thursday, July 30th. The electronics maker reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $305.00 million during the quarter, compared to the consensus estimate of $311.96 million. Dolby Laboratories had a net margin of 16.70% and a return on equity of 11.08%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. Dolby Laboratories has set its FY 2026 guidance at 4.250-4.400 EPS and its Q4 2026 guidance at 1.130-1.280 EPS. On average, research analysts expect that Dolby Laboratories will post 3.26 EPS for the current fiscal year.

Dolby Laboratories declared that its board has initiated a stock repurchase program on Thursday, July 30th that authorizes the company to buyback $350.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Tuesday, August 11th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.3%. Dolby Laboratories’s dividend payout ratio is 61.28%.

Insider Activity

In related news, CAO Ryan Nicholson sold 1,348 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $62.04, for a total transaction of $83,629.92. Following the transaction, the chief accounting officer owned 35,636 shares of the company’s stock, valued at approximately $2,210,857.44. This trade represents a 3.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Todd Pendleton sold 11,876 shares of Dolby Laboratories stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $54.55, for a total transaction of $647,835.80. Following the completion of the transaction, the chief marketing officer owned 41,480 shares in the company, valued at approximately $2,262,734. The trade was a 22.26% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 36,581 shares of company stock valued at $2,047,398. Corporate insiders own 37.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DLB shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dolby Laboratories in a research note on Wednesday, June 24th. Barrington Research reiterated an “outperform” rating and issued a $90.00 target price on shares of Dolby Laboratories in a research note on Monday, June 15th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price target on shares of Dolby Laboratories in a report on Friday, July 31st. Finally, Wall Street Zen lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.75.

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.