Teacher Retirement System of Texas Grows Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Teacher Retirement System of Texas raised its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 62.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 141,439 shares of the electronics maker's stock after purchasing an additional 54,177 shares during the period. Teacher Retirement System of Texas owned approximately 0.15% of Dolby Laboratories worth $11,046,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp lifted its holdings in shares of Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 163 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 301 shares during the period. Mather Group LLC. boosted its holdings in shares of Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after acquiring an additional 142 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker's stock valued at $60,000 after acquiring an additional 146 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock worth $61,000 after acquiring an additional 525 shares during the period. Institutional investors own 58.56% of the company's stock.

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Dolby Laboratories Trading Up 0.2 %

NYSE DLB traded up $0.17 during trading hours on Wednesday, hitting $81.67. 263,951 shares of the company's stock traded hands, compared to its average volume of 420,032. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66. The firm has a market capitalization of $7.79 billion, a P/E ratio of 30.03 and a beta of 1.01. The business's fifty day moving average price is $82.26 and its two-hundred day moving average price is $78.07.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.62%. Dolby Laboratories's dividend payout ratio (DPR) is 48.53%.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the transaction, the chief accounting officer now owns 29,758 shares of the company's stock, valued at $2,501,755.06. The trade was a 19.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the company's stock in a transaction that occurred on 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 transaction, 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 disclosure for this sale can be found here. Insiders sold 65,121 shares of company stock worth $5,501,324 in the last three months. Corporate insiders own 38.39% of the company's stock.

Wall Street Analyst Weigh In

DLB has been the topic of several research reports. StockNews.com cut shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st. 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, Rosenblatt Securities reissued a "buy" rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, January 30th.

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.