Charles Schwab Investment Management Inc. Has $58 Million Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Charles Schwab Investment Management Inc. increased its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 742,639 shares of the electronics maker's stock after purchasing an additional 25,047 shares during the period. Charles Schwab Investment Management Inc. owned 0.78% of Dolby Laboratories worth $58,000,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DLB. Bank of New York Mellon Corp lifted its stake in shares of Dolby Laboratories by 64.2% in the 4th 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 period. Clifford Capital Partners LLC lifted its stake in shares of Dolby Laboratories by 3,114.7% in the third quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker's stock valued at $20,707,000 after purchasing an additional 262,162 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Dolby Laboratories by 10,441,900.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker's stock valued at $8,123,000 after purchasing an additional 104,419 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Dolby Laboratories by 496.7% in the third quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker's stock valued at $7,823,000 after purchasing an additional 85,093 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its stake 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 period. Institutional investors and hedge funds own 58.56% of the company's stock.

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Insider Buying and Selling

In other news, EVP Mark Andrew Sherman sold 40,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 62,397 shares in the company, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Todd Pendleton sold 18,121 shares of the company's stock in a transaction dated 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 $3,123,037.50. This represents a 32.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,459 shares of company stock worth $6,464,675. Insiders own 38.39% of the company's stock.

Dolby Laboratories Stock Up 2.4 %

Shares of NYSE DLB traded up $1.92 during trading on Friday, reaching $81.92. 394,295 shares of the stock were exchanged, compared to its average volume of 499,486. The business's 50-day moving average price is $81.69 and its 200 day moving average price is $77.45. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 30.12 and a beta of 1.01.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.61%. Dolby Laboratories's dividend payout ratio (DPR) is presently 48.53%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DLB shares. StockNews.com downgraded shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, 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.

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.