Raymond James Financial Inc. Invests $1.87 Million in Dolby Laboratories, Inc. (NYSE:DLB)

Raymond James Financial Inc. purchased a new stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 23,974 shares of the electronics maker's stock, valued at approximately $1,872,000.

A number of other large investors have also made changes to their positions in DLB. Bank of New York Mellon Corp grew its position in Dolby Laboratories by 64.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock worth $376,948,000 after buying an additional 1,887,518 shares during the period. State Street Corp increased its stake in Dolby Laboratories by 1.5% in the 3rd quarter. State Street Corp now owns 1,931,586 shares of the electronics maker's stock valued at $147,824,000 after purchasing an additional 29,289 shares in the last quarter. Geode Capital Management LLC raised its holdings in Dolby Laboratories by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker's stock worth $117,767,000 after purchasing an additional 63,293 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of Dolby Laboratories by 4.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker's stock worth $112,209,000 after buying an additional 63,589 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in shares of Dolby Laboratories by 0.9% in the fourth quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker's stock valued at $84,715,000 after purchasing an additional 9,624 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company's stock.

Dolby Laboratories Trading Down 6.6 %

Shares of Dolby Laboratories stock traded down $5.10 during trading hours on Friday, reaching $72.54. 706,219 shares of the company's stock were exchanged, compared to its average volume of 446,344. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The company has a fifty day moving average of $82.03 and a 200-day moving average of $78.52. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 26.67 and a beta of 1.01.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were issued a $0.33 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.82%. Dolby Laboratories's payout ratio is 48.53%.

Insider Buying and Selling

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the completion of the sale, the executive vice president now owns 62,397 shares of the company's stock, valued at approximately $5,296,257.36. The trade was a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Todd Pendleton sold 18,121 shares of the company'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 sale, the chief marketing officer now owns 37,290 shares of the company's stock, valued at $3,123,037.50. This represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,121 shares of company stock valued at $5,501,324. Insiders own 38.39% of the company's stock.

Analysts Set New Price Targets

DLB has been the subject of a number of analyst reports. Rosenblatt Securities reissued a "buy" rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th. Barrington Research reiterated an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, February 13th. Finally, StockNews.com lowered shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st.

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.