2Xideas AG Purchases 64,554 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

2Xideas AG lifted its stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 66.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,398 shares of the electronics maker's stock after acquiring an additional 64,554 shares during the quarter. Dolby Laboratories accounts for about 1.7% of 2Xideas AG's investment portfolio, making the stock its 23rd largest holding. 2Xideas AG owned 0.17% of Dolby Laboratories worth $12,605,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in DLB. Fifth Third Bancorp increased its position in Dolby Laboratories by 82.7% during 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 lifted its stake in shares of Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock worth $29,000 after purchasing an additional 301 shares during the period. Mather Group LLC. lifted its stake in shares of Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock worth $41,000 after purchasing an additional 142 shares during the period. Headlands Technologies LLC purchased a new position in shares of Dolby Laboratories in the fourth quarter worth approximately $57,000. Finally, GAMMA Investing LLC grew its position in Dolby Laboratories by 207.5% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock valued at $61,000 after buying an additional 525 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DLB. StockNews.com cut shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st. Barrington Research reiterated an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, February 13th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, January 30th.

Dolby Laboratories Stock Up 0.4 %

NYSE:DLB traded up $0.26 during trading hours on Friday, hitting $72.82. 138,572 shares of the stock traded hands, compared to its average volume of 446,995. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 26.61 and a beta of 0.94. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The stock has a 50 day moving average price of $80.68 and a 200 day moving average price of $78.42.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories's dividend payout ratio (DPR) is 48.53%.

Insiders Place Their Bets

In other news, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the sale, the executive vice president now owns 62,397 shares in the company, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Todd Pendleton sold 18,121 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the transaction, the chief marketing officer now owns 37,290 shares of the company's stock, 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. In the last quarter, insiders sold 65,121 shares of company stock worth $5,501,324. Corporate insiders own 38.39% 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.