Disciplined Growth Investors Inc. MN increased its position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,466,212 shares of the electronics maker's stock after purchasing an additional 63,589 shares during the period. Dolby Laboratories makes up 2.1% of Disciplined Growth Investors Inc. MN's investment portfolio, making the stock its 20th largest holding. Disciplined Growth Investors Inc. MN owned about 1.54% of Dolby Laboratories worth $112,209,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of DLB. Cetera Advisors LLC bought a new stake in shares of Dolby Laboratories in the 1st quarter worth approximately $225,000. CWM LLC lifted its position in shares of Dolby Laboratories by 405.7% during the second quarter. CWM LLC now owns 3,110 shares of the electronics maker's stock worth $246,000 after acquiring an additional 2,495 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Dolby Laboratories in the second quarter valued at $1,157,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Dolby Laboratories by 9.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,861 shares of the electronics maker's stock valued at $306,000 after buying an additional 344 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in Dolby Laboratories by 4.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,536 shares of the electronics maker's stock worth $756,000 after purchasing an additional 363 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.
Analyst Ratings Changes
DLB has been the subject of several research analyst reports. Barrington Research reiterated an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Wednesday, November 20th. 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. Finally, StockNews.com upgraded Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 4th.
Get Our Latest Stock Report on Dolby Laboratories
Insiders Place Their Bets
In other Dolby Laboratories news, SVP John D. Couling sold 50,000 shares of Dolby Laboratories stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $80.04, for a total value of $4,002,000.00. Following the sale, the senior vice president now owns 106,806 shares of the company's stock, valued at $8,548,752.24. The trade was a 31.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Ryan Nicholson sold 10,500 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 24,364 shares of the company's stock, valued at $1,953,505.52. This represents a 30.12 % 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 worth $12,027,697 over the last three months. 39.54% of the stock is currently owned by company insiders.
Dolby Laboratories Trading Down 0.5 %
DLB stock traded down $0.41 during trading on Tuesday, reaching $78.99. The stock had a trading volume of 206,677 shares, compared to its average volume of 410,764. The stock's 50 day moving average is $75.56 and its two-hundred day moving average is $75.74. The firm has a market cap of $7.54 billion, a PE ratio of 29.29 and a beta of 0.98. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06.
Dolby Laboratories Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.33 per share. This is a boost from Dolby Laboratories's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 1.67%. Dolby Laboratories's dividend payout ratio (DPR) is presently 48.71%.
About Dolby Laboratories
(
Free Report)
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.
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