UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 88,472 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 28.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 218,978 shares of the electronics maker's stock after selling 88,472 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.23% of Dolby Laboratories worth $16,758,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in DLB. Boston Trust Walden Corp raised its holdings in shares of Dolby Laboratories by 185.3% during the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker's stock valued at $82,276,000 after purchasing an additional 698,283 shares during the last quarter. Clifford Capital Partners LLC raised its holdings in shares of Dolby Laboratories by 3,114.7% during the third quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker's stock valued at $20,707,000 after purchasing an additional 262,162 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Dolby Laboratories by 39.8% during the second quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker's stock valued at $51,698,000 after purchasing an additional 185,884 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Dolby Laboratories by 27.0% during the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker's stock valued at $62,817,000 after buying an additional 168,744 shares during the period. Finally, AQR Capital Management LLC grew its position in Dolby Laboratories by 16.2% during the second quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker's stock valued at $49,690,000 after buying an additional 87,298 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Performance

Shares of DLB traded down $0.17 during mid-day trading on Friday, reaching $79.15. The stock had a trading volume of 487,356 shares, compared to its average volume of 512,663. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of 29.21 and a beta of 0.98. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $90.06. The business has a fifty day moving average of $75.51 and a 200 day moving average of $75.83.

Dolby Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd will be given a $0.33 dividend. This is a positive change 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 1.67%. The ex-dividend date is Tuesday, December 3rd. Dolby Laboratories's dividend payout ratio is presently 48.71%.

Insiders Place Their Bets

In related news, CAO Ryan Nicholson sold 10,500 shares of the company's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total transaction of $841,890.00. Following the completion of the transaction, the chief accounting officer now owns 24,364 shares in the company, valued at approximately $1,953,505.52. This represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John D. Couling sold 50,000 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the transaction, the senior vice president now owns 106,806 shares of the company's stock, valued at approximately $8,548,752.24. This represents a 31.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 152,091 shares of company stock worth $12,027,697 over the last three months. 39.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DLB has been the subject of several recent research reports. StockNews.com upgraded shares of Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Barrington Research restated an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Wednesday, November 20th. Finally, Rosenblatt Securities boosted 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 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.