Charles Schwab Investment Management Inc. Purchases 25,047 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Charles Schwab Investment Management Inc. boosted its position in Dolby Laboratories, Inc. (NYSE:DLB) by 3.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 742,639 shares of the electronics maker’s stock after buying an additional 25,047 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Dolby Laboratories were worth $58,000,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in Dolby Laboratories by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 163 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Dolby Laboratories by 436.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 301 shares during the last quarter. Mather Group LLC. boosted its holdings in Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after acquiring an additional 142 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after acquiring an additional 146 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock valued at $61,000 after acquiring an additional 525 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Finally, Barrington Research restated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, February 13th.

Dolby Laboratories Trading Down 0.7 %

Shares of DLB opened at $81.27 on Thursday. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The stock has a market cap of $7.76 billion, a P/E ratio of 29.88 and a beta of 1.01. The stock’s 50-day moving average price is $81.57 and its two-hundred day moving average price is $77.32.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Insider Transactions at Dolby Laboratories

In other news, CAO Ryan Nicholson sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the sale, the chief accounting officer now owns 29,758 shares of the company’s stock, valued at $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,459 shares of company stock valued at $6,464,675 over the last 90 days. 38.39% of the stock is owned by company insiders.

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.