Kovitz Investment Group Partners LLC Sells 1,061 Shares of Dolby Laboratories $DLB

Kovitz Investment Group Partners LLC lessened its holdings in Dolby Laboratories (NYSE:DLB) by 19.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,360 shares of the electronics maker’s stock after selling 1,061 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Dolby Laboratories were worth $350,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DLB. Alpine Bank Wealth Management bought a new position in Dolby Laboratories in the 1st quarter valued at approximately $25,000. Cheviot Value Management LLC acquired a new position in shares of Dolby Laboratories in the first quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Dolby Laboratories in the first quarter worth approximately $29,000. Global X Japan Co. Ltd. acquired a new position in shares of Dolby Laboratories in the first quarter worth approximately $51,000. Finally, Fifth Third Bancorp lifted its stake in shares of Dolby Laboratories by 84.7% in the first quarter. Fifth Third Bancorp now owns 665 shares of the electronics maker’s stock worth $53,000 after acquiring an additional 305 shares during the period. Institutional investors own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $75.02, for a total transaction of $1,125,300.00. Following the completion of the sale, the executive vice president owned 62,397 shares in the company, valued at $4,681,022.94. The trade was a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kevin J. Yeaman sold 39,875 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $74.82, for a total value of $2,983,447.50. Following the sale, the chief executive officer owned 114,725 shares of the company’s stock, valued at approximately $8,583,724.50. This represents a 25.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 141,049 shares of company stock worth $10,521,141. Insiders own 38.39% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of DLB opened at $72.8350 on Friday. Dolby Laboratories has a 52-week low of $68.24 and a 52-week high of $89.66. The business’s 50 day moving average price is $74.29 and its two-hundred day moving average price is $76.72. The firm has a market cap of $6.98 billion, a PE ratio of 26.68 and a beta of 0.91.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, July 31st. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.06. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.The firm had revenue of $315.55 million for the quarter, compared to analyst estimates of $305.23 million. During the same period in the previous year, the firm earned $0.71 earnings per share. The company’s 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. Research analysts predict that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Tuesday, August 12th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.32 annualized dividend 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.