Jacobs Levy Equity Management Inc. Takes Position in Dolby Laboratories, Inc. (NYSE:DLB)

Jacobs Levy Equity Management Inc. acquired a new position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,662 shares of the electronics maker's stock, valued at approximately $739,000.

A number of other large investors have also modified their holdings of DLB. Boston Trust Walden Corp increased its holdings in shares of Dolby Laboratories by 185.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker's stock worth $82,276,000 after acquiring an additional 698,283 shares during the period. Clifford Capital Partners LLC increased its stake in Dolby Laboratories by 3,114.7% during the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker's stock valued at $20,707,000 after buying an additional 262,162 shares during the period. Acadian Asset Management LLC increased its stake in Dolby Laboratories by 39.8% during the 2nd 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 period. Dimensional Fund Advisors LP increased its stake in Dolby Laboratories by 27.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker's stock valued at $62,817,000 after buying an additional 168,744 shares during the period. Finally, AQR Capital Management LLC increased its stake in Dolby Laboratories by 16.2% during the 2nd quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker's stock valued at $49,690,000 after buying an additional 87,298 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.

Dolby Laboratories Stock Performance

Shares of NYSE:DLB traded down $0.01 during trading hours on Tuesday, hitting $79.39. 512,186 shares of the company's stock traded hands, compared to its average volume of 412,162. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06. The company's fifty day simple moving average is $75.63 and its two-hundred day simple moving average is $75.74. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 29.30 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.33 per share. This is a positive change 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 annualized dividend and a dividend yield of 1.66%. Dolby Laboratories's dividend payout ratio (DPR) is 48.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Rosenblatt Securities raised their target price on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Barrington Research reissued an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Wednesday, November 20th. Finally, StockNews.com raised shares of Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 4th.

Insider Activity

In other Dolby Laboratories news, Director Peter C. Gotcher sold 6,079 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the completion of the transaction, the director now directly owns 37,593 shares in the company, valued at $2,968,343.28. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP John D. Couling sold 7,000 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.50, for a total transaction of $563,500.00. Following the completion of the transaction, the senior vice president now owns 106,806 shares of the company's stock, valued at approximately $8,597,883. The trade was a 6.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,091 shares of company stock worth $12,027,697. Corporate insiders own 39.54% of the company's stock.

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.