PNC Financial Services Group Inc. Decreases Stock Position in Dolby Laboratories $DLB

PNC Financial Services Group Inc. lessened its position in shares of Dolby Laboratories (NYSE:DLB) by 24.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,746 shares of the electronics maker’s stock after selling 1,866 shares during the period. PNC Financial Services Group Inc.’s holdings in Dolby Laboratories were worth $427,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Dolby Laboratories by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 7,535,722 shares of the electronics maker’s stock valued at $605,194,000 after acquiring an additional 502,110 shares during the period. AQR Capital Management LLC increased its stake in shares of Dolby Laboratories by 63.6% in the first quarter. AQR Capital Management LLC now owns 1,143,978 shares of the electronics maker’s stock worth $90,946,000 after purchasing an additional 444,718 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Dolby Laboratories by 241,160.1% in the first quarter. Jones Financial Companies Lllp now owns 429,443 shares of the electronics maker’s stock valued at $36,975,000 after purchasing an additional 429,265 shares during the period. Nuveen LLC purchased a new stake in shares of Dolby Laboratories during the 1st quarter valued at approximately $16,890,000. Finally, Martingale Asset Management L P bought a new position in Dolby Laboratories in the 1st quarter worth approximately $15,366,000. Institutional investors own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Saturday. Rosenblatt Securities reduced their price target on Dolby Laboratories from $95.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Baird R W raised Dolby Laboratories to a “hold” rating in a report on Friday, September 5th. Barrington Research reduced their target price on Dolby Laboratories from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Finally, Tigress Financial upped their price target on Dolby Laboratories from $112.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Dolby Laboratories Stock Down 1.2%

Dolby Laboratories stock opened at $66.69 on Tuesday. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 24.43 and a beta of 0.97. The business has a 50-day simple moving average of $68.49 and a 200 day simple moving average of $72.28. Dolby Laboratories has a 52 week low of $64.02 and a 52 week high of $89.66.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Tuesday, November 18th. The electronics maker reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.29. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.The firm had revenue of $307.02 million during the quarter, compared to the consensus estimate of $305.76 million. During the same quarter last year, the company posted $0.61 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Dolby Laboratories has set its FY 2026 guidance at 4.190-4.340 EPS. Q1 2026 guidance at 0.790-0.940 EPS. On average, research analysts anticipate that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, December 2nd will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, December 2nd. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.33. Dolby Laboratories’s payout ratio is currently 54.75%.

Insider Transactions at Dolby Laboratories

In other news, SVP Shriram Revankar sold 3,000 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $65.55, for a total transaction of $196,650.00. Following the sale, the senior vice president owned 67,435 shares in the company, valued at approximately $4,420,364.25. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kevin J. Yeaman sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $68.87, for a total transaction of $1,721,750.00. Following the completion of the transaction, the chief executive officer owned 114,725 shares of the company’s stock, valued at $7,901,110.75. This trade represents a 17.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 59,164 shares of company stock valued at $4,117,464 in the last quarter. Insiders own 38.39% 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.