Dolby Laboratories, Inc. (NYSE:DLB) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,033,612 shares of the electronics maker's stock after buying an additional 68,771 shares during the period. Vanguard Group Inc. owned about 7.37% of Dolby Laboratories worth $549,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in DLB. Fifth Third Bancorp raised 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 acquiring an additional 163 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Dolby Laboratories by 436.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock worth $29,000 after purchasing an additional 301 shares in the last quarter. Mather Group LLC. raised its stake in Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after purchasing an additional 142 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Dolby Laboratories by 207.5% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock valued at $61,000 after purchasing an additional 525 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in Dolby Laboratories during the 4th quarter worth $94,000. Institutional investors and hedge funds own 58.56% of the company's stock.

Dolby Laboratories Stock Performance

Shares of NYSE DLB traded down $5.10 during trading on Friday, hitting $72.54. 706,219 shares of the company were exchanged, compared to its average volume of 446,344. The company has a fifty day moving average price of $82.03 and a 200-day moving average price of $78.52. The firm has a market capitalization of $6.92 billion, a PE ratio of 26.67 and a beta of 1.01. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66.

Dolby Laboratories Announces Dividend

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

Insider Activity

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction dated Thursday, January 30th. The shares were 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 directly owns 62,397 shares in the company, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Todd Pendleton sold 18,121 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.