CWA Asset Management Group LLC Invests $746,000 in Dolby Laboratories, Inc. (NYSE:DLB)

CWA Asset Management Group LLC acquired a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,752 shares of the electronics maker's stock, valued at approximately $746,000.

Other large investors also recently added to or reduced their stakes in the company. Boston Trust Walden Corp grew its holdings in shares of Dolby Laboratories by 185.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker's stock worth $82,276,000 after purchasing an additional 698,283 shares during the period. Acadian Asset Management LLC lifted its position in Dolby Laboratories by 39.8% in the second quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker's stock valued at $51,698,000 after buying an additional 185,884 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Dolby Laboratories by 27.0% during the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker's stock worth $62,817,000 after buying an additional 168,744 shares during the period. Vanguard Group Inc. increased its position in shares of Dolby Laboratories by 1.7% during the first quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker's stock valued at $544,711,000 after acquiring an additional 107,713 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Dolby Laboratories by 16.2% in the 2nd quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker's stock valued at $49,690,000 after purchasing an additional 87,298 shares during the last quarter. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on DLB shares. Barrington Research restated an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Friday, September 20th. StockNews.com upgraded shares of Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a report on Friday.

Dolby Laboratories Stock Performance

DLB stock traded up $0.35 during mid-day trading on Monday, reaching $75.50. The company had a trading volume of 94,519 shares, compared to its average volume of 395,873. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $90.06. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 34.28 and a beta of 0.98. The firm has a fifty day simple moving average of $73.26 and a 200 day simple moving average of $76.33.

Dolby Laboratories declared that its Board of Directors has approved 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 repurchase up to 5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the sale, the chief executive officer now directly owns 83,721 shares of the company's stock, valued at approximately $6,205,400.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 39.54% of the stock is owned by corporate insiders.

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.