JPMorgan Chase & Co. Has $19.96 Million Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

JPMorgan Chase & Co. decreased its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 255,534 shares of the electronics maker's stock after selling 8,086 shares during the quarter. JPMorgan Chase & Co. owned 0.27% of Dolby Laboratories worth $19,957,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DLB. Vanguard Group Inc. boosted its holdings in shares of Dolby Laboratories by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker's stock worth $549,325,000 after acquiring an additional 68,771 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Dolby Laboratories by 64.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock valued at $376,948,000 after buying an additional 1,887,518 shares in the last quarter. State Street Corp raised its holdings in shares of Dolby Laboratories by 1.5% in the third quarter. State Street Corp now owns 1,931,586 shares of the electronics maker's stock valued at $147,824,000 after buying an additional 29,289 shares during the last quarter. Geode Capital Management LLC lifted its position in Dolby Laboratories by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker's stock worth $117,767,000 after buying an additional 63,293 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its position in Dolby Laboratories by 0.9% during the 4th quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker's stock worth $84,715,000 after buying an additional 9,624 shares in the last quarter. Institutional investors own 58.56% of the company's stock.

Insider Buying and Selling

In related news, EVP Mark Andrew Sherman sold 40,000 shares of the company's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value of $3,395,200.00. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this link. Also, CMO Todd Pendleton sold 18,121 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the transaction, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,121 shares of company stock valued at $5,501,324 over the last ninety days. Insiders own 38.39% of the company's stock.

Dolby Laboratories Stock Down 0.9 %

DLB stock traded down $0.65 during midday trading on Wednesday, reaching $73.30. The stock had a trading volume of 24,740 shares, compared to its average volume of 446,579. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 26.96 and a beta of 0.94. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66. The business has a fifty day simple moving average of $80.05 and a two-hundred day simple moving average of $78.39.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories's dividend payout ratio is 48.53%.

Analyst Ratings Changes

Several equities research analysts have weighed in on DLB shares. StockNews.com cut shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st. Barrington Research reissued an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, February 13th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th.

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.