Dolby Laboratories said on February 2, 2023 that its board of directors declared a regular quarterly dividend of $0.27 per share ($1.08 annualized). Shareholders of record as of February 13, 2023 will receive the payment on February 22, 2023. Previously, the company paid $0.27 per share.
At the current share price of $86.41 / share, the stock's dividend yield is 1.25%. Looking back five years and taking a sample every week, the average dividend yield has been 1.17%, the lowest has been 0.85%, and the highest has been 1.80%. The standard deviation of yields is 0.20 (n=235).
The current dividend yield is 0.40 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.56. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.23%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 2.62% Downside
As of February 3, 2023, the average one-year price target for Dolby Laboratories is $84.15. The forecasts range from a low of $80.80 to a high of $89.25. The average price target represents a decrease of 2.62% from its latest reported closing price of $86.41.
The projected annual revenue for Dolby Laboratories is $1,290MM, an increase of 2.89%. The projected annual EPS is $3.39, an increase of 84.33%.
Fund Sentiment
There are 728 funds or institutions reporting positions in Dolby Laboratories. This is a decrease of 8 owner(s) or 1.09%.
Average portfolio weight of all funds dedicated to US:DLB is 0.2124%, a decrease of 13.1667%. Total shares owned by institutions decreased in the last three months by 6.92% to 67,784K shares.
What are large shareholders doing?
Kayne Anderson Rudnick Investment Management holds 4,057,720 shares representing 4.25% ownership of the company. In it's prior filing, the firm reported owning 4,052,837 shares, representing an increase of 0.12%. The firm decreased its portfolio allocation in DLB by 29.68% over the last quarter.
Atlanta Capital Management Co L L C holds 3,737,617 shares representing 3.91% ownership of the company. In it's prior filing, the firm reported owning 3,738,973 shares, representing a decrease of 0.04%. The firm decreased its portfolio allocation in DLB by 5.90% over the last quarter.
Clearbridge Investments holds 3,113,453 shares representing 3.26% ownership of the company. In it's prior filing, the firm reported owning 3,219,426 shares, representing a decrease of 3.40%. The firm decreased its portfolio allocation in DLB by 4.74% over the last quarter.
EAASX - Eaton Vance Atlanta Capital SMID-Cap Fund holds 2,963,442 shares representing 3.10% ownership of the company. No change in the last quarter.
Ninety One UK holds 2,371,365 shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 2,662,638 shares, representing a decrease of 12.28%. The firm decreased its portfolio allocation in DLB by 10.05% over the last quarter.
Dolby Laboratories Background Information
(This description is provided by the company.)
Dolby Laboratories is based in San Francisco with offices in over 20 countries around the globe. Dolby transforms the science of sight and sound into spectacular experiences. Through innovative research and engineering, Dolby creates breakthrough experiences for billions of people worldwide through a collaborative ecosystem spanning artists, businesses, and consumers. The experiences people have - with Dolby Cinema, Dolby Vision, Dolby Atmos, Dolby Audio, and Dolby Voice - revolutionize entertainment and communications at the cinema, on the go, in the home, and at work.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
