Northwest & Ethical Investments L.P. Raises Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Northwest & Ethical Investments L.P. boosted its stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 13.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,779 shares of the electronics maker's stock after buying an additional 11,850 shares during the period. Northwest & Ethical Investments L.P. owned 0.10% of Dolby Laboratories worth $7,483,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Trust Walden Corp raised its position in shares of Dolby Laboratories by 3.1% in the 2nd quarter. Boston Trust Walden Corp now owns 376,793 shares of the electronics maker's stock worth $29,853,000 after purchasing an additional 11,177 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Dolby Laboratories during the second quarter valued at approximately $3,348,000. Pacer Advisors Inc. raised its holdings in Dolby Laboratories by 47.5% in 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 during the last quarter. SG Americas Securities LLC purchased a new position in Dolby Laboratories in the 2nd quarter worth approximately $1,157,000. Finally, Algert Global LLC lifted its position in 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 acquiring an additional 16,700 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company's stock.

Dolby Laboratories Price Performance

Shares of DLB traded up $0.12 on Friday, reaching $78.32. The company's stock had a trading volume of 204,557 shares, compared to its average volume of 407,959. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $90.06. The stock has a market capitalization of $7.47 billion, a P/E ratio of 28.86 and a beta of 0.98. The stock's 50 day simple moving average is $74.89 and its two-hundred day simple moving average is $75.97.

Dolby Laboratories declared that its board has approved a stock repurchase program on Wednesday, August 7th that authorizes the company to repurchase $350.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Dolby Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 3rd. This is an increase from Dolby Laboratories's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.69%. Dolby Laboratories's payout ratio is 44.28%.

Insider Buying and Selling

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 83,721 shares in the company, valued at approximately $6,205,400.52. This trade represents a 25.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ryan Nicholson sold 10,500 shares of Dolby Laboratories 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 sale, the chief accounting officer now directly owns 24,364 shares in the company, valued at $1,953,505.52. This trade represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,091 shares of company stock valued at $12,027,697. 39.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DLB has been the topic of several recent analyst reports. StockNews.com cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Rosenblatt Securities lifted their price target 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, Barrington Research restated an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Wednesday, November 20th.

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.