State Street Corp Acquires 29,289 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

State Street Corp lifted its position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,931,586 shares of the electronics maker's stock after purchasing an additional 29,289 shares during the period. State Street Corp owned about 2.03% of Dolby Laboratories worth $147,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DLB. Blue Trust Inc. boosted its position in Dolby Laboratories by 398.8% during the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker's stock worth $35,000 after buying an additional 331 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Dolby Laboratories during the second quarter worth $37,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Dolby Laboratories by 192.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker's stock worth $46,000 after purchasing an additional 379 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker's stock worth $60,000 after purchasing an additional 146 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in Dolby Laboratories in the third quarter valued at $93,000. 58.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DLB shares. Barrington Research reiterated an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Wednesday, November 20th. StockNews.com upgraded Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 4th. Finally, Rosenblatt Securities increased their target price on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th.

Dolby Laboratories Trading Down 1.3 %

DLB stock traded down $1.07 during midday trading on Friday, hitting $79.18. The stock had a trading volume of 335,337 shares, compared to its average volume of 413,468. The firm has a market cap of $7.56 billion, a P/E ratio of 29.22 and a beta of 0.98. The business has a fifty day moving average price of $75.86 and a two-hundred day moving average price of $75.80. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.28.

Dolby Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.67%. This is an increase from Dolby Laboratories's previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, December 3rd. Dolby Laboratories's payout ratio is currently 48.71%.

Insider Activity at Dolby Laboratories

In other news, Director Peter C. Gotcher sold 6,079 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $78.96, for a total transaction of $479,997.84. Following the transaction, the director now owns 37,593 shares of the company's stock, valued at $2,968,343.28. This represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin J. Yeaman sold 28,512 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the completion of the sale, the chief executive officer now owns 83,721 shares of the company's stock, valued at approximately $6,205,400.52. This represents a 25.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 152,091 shares of company stock worth $12,027,697 in the last 90 days. 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.