Dolby Laboratories, Inc. (NYSE:DLB) Shares Acquired by Boston Trust Walden Corp

Boston Trust Walden Corp grew its position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 185.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,075,076 shares of the electronics maker's stock after acquiring an additional 698,283 shares during the period. Boston Trust Walden Corp owned about 1.12% of Dolby Laboratories worth $82,276,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DLB. Wealth Enhancement Advisory Services LLC grew its stake in Dolby Laboratories by 37.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,326 shares of the electronics maker's stock valued at $408,000 after acquiring an additional 1,465 shares during the period. Assenagon Asset Management S.A. raised its holdings in Dolby Laboratories by 135.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 104,039 shares of the electronics maker's stock valued at $7,962,000 after acquiring an additional 59,810 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Dolby Laboratories by 28.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 14,442 shares of the electronics maker's stock worth $1,105,000 after purchasing an additional 3,227 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Dolby Laboratories during the 3rd quarter worth approximately $3,895,000. Finally, Blue Trust Inc. grew its position in shares of Dolby Laboratories by 234.3% in the third quarter. Blue Trust Inc. now owns 1,384 shares of the electronics maker's stock valued at $110,000 after purchasing an additional 970 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Price Performance

Shares of DLB traded up $0.27 during mid-day trading on Friday, reaching $72.79. The stock had a trading volume of 178,344 shares, compared to its average volume of 405,687. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $90.06. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 37.14 and a beta of 0.97. The business's fifty day moving average is $72.78 and its 200 day moving average is $76.76.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.14. The business had revenue of $288.82 million during the quarter, compared to analysts' expectations of $286.26 million. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. As a group, sell-side analysts anticipate that Dolby Laboratories, Inc. will post 2.72 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Monday, August 19th. Dolby Laboratories's dividend payout ratio is presently 61.22%.

Dolby Laboratories announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 7th that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the electronics maker to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the completion of the transaction, the chief executive officer now owns 83,721 shares of the company's stock, valued at $6,205,400.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 39.54% of the company's stock.

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.