Dolby Laboratories, Inc. (NYSE:DLB) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 1.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,033,612 shares of the electronics maker’s stock after purchasing an additional 68,771 shares during the quarter. Vanguard Group Inc. owned about 0.07% of Dolby Laboratories worth $549,325,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Dolby Laboratories by 64.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock worth $376,948,000 after acquiring an additional 1,887,518 shares during the last quarter. State Street Corp boosted its holdings in shares of Dolby Laboratories by 1.5% during the 3rd quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock worth $147,824,000 after purchasing an additional 29,289 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Dolby Laboratories by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after purchasing an additional 63,293 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of Dolby Laboratories by 4.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after purchasing an additional 63,589 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its position in Dolby Laboratories by 0.9% during the fourth quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker’s stock worth $84,715,000 after buying an additional 9,624 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Stock Up 0.5 %

DLB stock opened at $80.32 on Tuesday. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 29.53 and a beta of 1.01. The business has a fifty day moving average of $82.24 and a two-hundred day moving average of $78.39.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were issued a $0.33 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.64%. Dolby Laboratories’s dividend payout ratio (DPR) is currently 48.53%.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the transaction, the executive vice president now directly owns 62,397 shares in the company, valued at $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ryan Nicholson sold 7,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total value of $588,490.00. Following the transaction, the chief accounting officer now owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. This represents a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,121 shares of company stock valued at $5,501,324 over the last 90 days. 38.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DLB shares. Barrington Research restated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, February 13th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st.

Dolby Laboratories Company 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.