Cerity Partners LLC purchased a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 3,496 shares of the electronics maker’s stock, valued at approximately $250,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DLB. Fuller & Thaler Asset Management Inc. increased its stake in Dolby Laboratories by 712.4% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,282,948 shares of the electronics maker’s stock valued at $100,352,000 after acquiring an additional 1,125,024 shares during the period. Ninety One UK Ltd increased its stake in Dolby Laboratories by 61.4% during the first quarter. Ninety One UK Ltd now owns 2,722,534 shares of the electronics maker’s stock valued at $212,957,000 after acquiring an additional 1,036,041 shares during the period. First Trust Advisors LP increased its stake in Dolby Laboratories by 320.2% during the first quarter. First Trust Advisors LP now owns 1,081,747 shares of the electronics maker’s stock valued at $84,614,000 after acquiring an additional 824,296 shares during the period. Bank of New York Mellon Corp increased its stake in Dolby Laboratories by 8.8% during the first quarter. Bank of New York Mellon Corp now owns 1,778,339 shares of the electronics maker’s stock valued at $139,101,000 after acquiring an additional 144,335 shares during the period. Finally, Boston Trust Walden Corp increased its stake in Dolby Laboratories by 90.7% during the second quarter. Boston Trust Walden Corp now owns 301,163 shares of the electronics maker’s stock valued at $21,551,000 after acquiring an additional 143,229 shares during the period. 59.13% of the stock is currently owned by institutional investors.
Insider Transactions at Dolby Laboratories
In other news, SVP John D. Couling sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $66.02, for a total value of $3,301,000.00. Following the transaction, the senior vice president now directly owns 79,235 shares of the company’s stock, valued at approximately $5,231,094.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 37.06% of the stock is owned by company insiders.
Dolby Laboratories Price Performance
Dolby Laboratories Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Wednesday, November 30th will be issued a $0.27 dividend. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Tuesday, November 29th. Dolby Laboratories’s payout ratio is presently 55.56%.
Analyst Ratings Changes
DLB has been the topic of a number of recent research reports. Barrington Research downgraded Dolby Laboratories from an “outperform” rating to a “market perform” rating in a report on Friday. StockNews.com downgraded Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Monday. Rosenblatt Securities decreased their price objective on Dolby Laboratories from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, November 7th. Finally, Tigress Financial decreased their price objective on Dolby Laboratories from $128.00 to $116.00 and set a “buy” rating on the stock in a report on Friday, October 14th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.00.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc engages in the provision of audio and imaging technologies. It transforms entertainment and communications for content playback in movies, television, music, and gaming. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.
- Get a free copy of the StockNews.com research report on Dolby Laboratories (DLB)
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