Dolby Laboratories, Inc. (NYSE:DLB) Shares Purchased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lifted its position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 284,466 shares of the electronics maker's stock after purchasing an additional 15,546 shares during the quarter. Lord Abbett & CO. LLC owned about 0.30% of Dolby Laboratories worth $21,771,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Panagora Asset Management Inc. acquired a new stake in Dolby Laboratories during the second quarter worth about $3,348,000. Boston Trust Walden Corp raised its position 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 acquiring an additional 698,283 shares in the last quarter. Pacer Advisors Inc. raised its stake in Dolby Laboratories by 47.5% during the 2nd quarter. Pacer Advisors Inc. now owns 23,320 shares of the electronics maker's stock worth $1,848,000 after acquiring an additional 7,509 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Dolby Laboratories by 52.0% in the 3rd quarter. Algert Global LLC now owns 48,822 shares of the electronics maker's stock valued at $3,736,000 after purchasing an additional 16,700 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Dolby Laboratories during the 3rd quarter worth $3,031,000. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Barrington Research reissued an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Wednesday, November 20th. Rosenblatt Securities increased their price objective on Dolby Laboratories from $98.00 to $100.00 and gave the company a "buy" rating 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 Transactions at Dolby Laboratories

In other news, SVP John D. Couling sold 50,000 shares of Dolby Laboratories stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the sale, the senior vice president now owns 106,806 shares in the company, valued at $8,548,752.24. This trade represents a 31.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin J. Yeaman sold 28,512 shares of Dolby Laboratories stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at $6,205,400.52. This trade represents a 25.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,091 shares of company stock valued at $12,027,697 over the last 90 days. Corporate insiders own 39.54% of the company's stock.

Dolby Laboratories Stock Down 1.6 %

Shares of DLB stock traded down $1.24 on Monday, reaching $77.94. 539,752 shares of the stock were exchanged, compared to its average volume of 413,989. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $87.12. The stock has a market cap of $7.44 billion, a P/E ratio of 28.76 and a beta of 0.98. The firm has a 50 day moving average of $75.92 and a two-hundred day moving average of $75.75.

Dolby Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.33 per share. This is an increase from Dolby Laboratories's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, December 3rd. Dolby Laboratories's payout ratio is currently 48.71%.

About Dolby Laboratories

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.