BNP Paribas Financial Markets Boosts Stake in Dolby Laboratories, Inc. (NYSE:DLB)

BNP Paribas Financial Markets grew its position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 125.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,463 shares of the electronics maker's stock after buying an additional 7,484 shares during the quarter. BNP Paribas Financial Markets' holdings in Dolby Laboratories were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of DLB. Boston Trust Walden Corp boosted its stake in shares of Dolby Laboratories by 3.1% during the 2nd quarter. Boston Trust Walden Corp now owns 376,793 shares of the electronics maker's stock worth $29,853,000 after acquiring an additional 11,177 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in Dolby Laboratories during the second quarter valued at about $3,348,000. Pacer Advisors Inc. grew its holdings in Dolby Laboratories by 47.5% during the second quarter. Pacer Advisors Inc. now owns 23,320 shares of the electronics maker's stock valued at $1,848,000 after purchasing an additional 7,509 shares during the period. Algert Global LLC increased its position in Dolby Laboratories by 52.0% in the third quarter. Algert Global LLC now owns 48,822 shares of the electronics maker's stock worth $3,736,000 after buying an additional 16,700 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Dolby Laboratories in the second quarter worth about $1,157,000. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock traded up $0.54 during trading hours on Wednesday, hitting $79.93. The company's stock had a trading volume of 735,670 shares, compared to its average volume of 413,516. The business has a 50 day moving average price of $75.63 and a two-hundred day moving average price of $75.74. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.39. The company has a market cap of $7.63 billion, a PE ratio of 29.30 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.65%. This is an increase from Dolby Laboratories's previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, December 3rd. Dolby Laboratories's payout ratio is presently 48.71%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CAO Ryan Nicholson sold 10,500 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total value of $841,890.00. Following the sale, the chief accounting officer now directly owns 24,364 shares in the company, valued at approximately $1,953,505.52. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin J. Yeaman sold 28,512 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total value of $2,113,309.44. Following the completion of the sale, the chief executive officer now owns 83,721 shares in the company, valued at $6,205,400.52. This represents a 25.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 152,091 shares of company stock worth $12,027,697 over the last ninety days. Corporate insiders own 39.54% of the company's stock.

Dolby Laboratories 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.