Dolby Laboratories, Inc. (NYSE:DLB) Shares Acquired by Bridgewater Associates LP

Bridgewater Associates LP grew its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 70.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,491 shares of the electronics maker's stock after acquiring an additional 20,004 shares during the quarter. Bridgewater Associates LP owned about 0.05% of Dolby Laboratories worth $3,711,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of Dolby Laboratories by 398.8% in the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker's stock worth $35,000 after acquiring an additional 331 shares during the period. Point72 Hong Kong Ltd bought a new position in Dolby Laboratories in the second quarter worth approximately $37,000. GAMMA Investing LLC boosted its position in Dolby Laboratories by 64.6% during the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker's stock valued at $39,000 after purchasing an additional 192 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Dolby Laboratories by 192.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker's stock worth $46,000 after buying an additional 379 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker's stock worth $60,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company's stock.

Dolby Laboratories Trading Up 0.2 %

DLB stock traded up $0.12 during midday trading on Friday, hitting $78.32. 204,557 shares of the company's stock were exchanged, compared to its average volume of 460,762. The business has a 50-day simple moving average of $74.99 and a two-hundred day simple moving average of $75.90. The stock has a market capitalization of $7.47 billion, a PE ratio of 28.90 and a beta of 0.98. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $90.06.

Dolby Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Dolby Laboratories's previous quarterly dividend of $0.30. Dolby Laboratories's dividend payout ratio (DPR) is presently 44.28%.

Dolby Laboratories declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 7th that authorizes the company to repurchase $350.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

DLB has been the subject of a number of research analyst reports. StockNews.com lowered Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 26th. Barrington Research reissued an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Wednesday, November 20th. Finally, Rosenblatt Securities lifted their target price on shares of Dolby Laboratories from $98.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th.

Insider Buying and Selling at Dolby Laboratories

In related news, CAO Ryan Nicholson sold 10,500 shares of the company's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total value of $841,890.00. Following the completion of the sale, the chief accounting officer now owns 24,364 shares in the company, valued at $1,953,505.52. This represents a 30.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin J. Yeaman sold 50,000 shares of Dolby Laboratories stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.54, for a total transaction of $4,027,000.00. Following the completion of the transaction, the chief executive officer now owns 83,721 shares in the company, valued at approximately $6,742,889.34. This represents a 37.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,091 shares of company stock valued at $12,027,697 in the last three months. 39.54% of the stock is owned by corporate insiders.

About Dolby Laboratories

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.