Assenagon Asset Management S.A. Raises Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Assenagon Asset Management S.A. grew its stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 135.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,039 shares of the electronics maker's stock after acquiring an additional 59,810 shares during the quarter. Assenagon Asset Management S.A. owned about 0.11% of Dolby Laboratories worth $7,962,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DLB. Acadian Asset Management LLC increased its position in shares of Dolby Laboratories by 39.8% during the 2nd quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker's stock worth $51,698,000 after purchasing an additional 185,884 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Dolby Laboratories by 27.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker's stock worth $62,817,000 after purchasing an additional 168,744 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Dolby Laboratories by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker's stock worth $544,711,000 after purchasing an additional 107,713 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Dolby Laboratories by 16.2% during the 2nd quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker's stock valued at $49,690,000 after acquiring an additional 87,298 shares during the period. Finally, Marshall Wace LLP purchased a new position in Dolby Laboratories during the 2nd quarter valued at about $6,131,000. 58.56% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories Price Performance

Shares of NYSE:DLB traded up $0.68 during trading on Tuesday, reaching $73.68. The company had a trading volume of 233,675 shares, compared to its average volume of 403,826. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 37.26 and a beta of 0.97. The stock's fifty day moving average price is $72.80 and its 200 day moving average price is $76.62. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $90.06.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.14. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. The business had revenue of $288.82 million for the quarter, compared to analyst estimates of $286.26 million. On average, equities 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. Investors of record on Monday, August 19th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.63%. Dolby Laboratories's dividend payout ratio (DPR) is presently 61.22%.

Dolby Laboratories announced that its board has approved a share buyback program on Wednesday, August 7th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Insider Activity at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 28,512 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total value of $2,113,309.44. Following the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at $6,205,400.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 39.54% of the company's stock.

Dolby Laboratories 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.