Dolby Laboratories, Inc. (NYSE:DLB) Stake Lifted by Barclays PLC

Barclays PLC grew its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 80.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,230 shares of the electronics maker's stock after acquiring an additional 14,825 shares during the period. Barclays PLC's holdings in Dolby Laboratories were worth $2,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. increased its holdings in Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker's stock valued at $60,000 after purchasing an additional 146 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Dolby Laboratories by 5.1% during the 2nd quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker's stock valued at $251,000 after buying an additional 153 shares during the period. Glenmede Trust Co. NA lifted its position in Dolby Laboratories by 3.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,376 shares of the electronics maker's stock worth $411,000 after acquiring an additional 182 shares in the last quarter. Prudential PLC boosted its holdings in Dolby Laboratories by 0.8% in the 2nd quarter. Prudential PLC now owns 24,078 shares of the electronics maker's stock worth $1,908,000 after acquiring an additional 193 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC grew its position in Dolby Laboratories by 1.5% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 14,026 shares of the electronics maker's stock valued at $1,073,000 after acquiring an additional 209 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Dolby Laboratories Stock Up 0.9 %

Shares of Dolby Laboratories stock traded up $0.66 on Wednesday, hitting $78.28. 120,507 shares of the company's stock traded hands, compared to its average volume of 418,918. The firm's 50-day moving average is $76.47 and its 200 day moving average is $75.66. The stock has a market cap of $7.47 billion, a P/E ratio of 28.89 and a beta of 0.98. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $87.12.

Dolby Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.32 annualized dividend and a dividend yield of 1.69%. This is an increase from Dolby Laboratories's previous quarterly dividend of $0.30. Dolby Laboratories's payout ratio is presently 48.71%.

Insider Activity

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the transaction, the chief executive officer now directly owns 83,721 shares in the company, valued at $6,205,400.52. This trade represents a 25.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ryan Nicholson sold 10,500 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total transaction of $841,890.00. Following the sale, the chief accounting officer now owns 24,364 shares of the company's stock, valued at approximately $1,953,505.52. The trade was a 30.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,429 shares of company stock worth $12,991,048. 39.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

DLB has been the topic of a number of recent research reports. Barrington Research reissued an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Wednesday, November 20th. StockNews.com upgraded shares of Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 4th. Finally, Rosenblatt Securities raised their target price on Dolby Laboratories from $98.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th.

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.