154,688 Shares in Dolby Laboratories, Inc. (NYSE:DLB) Purchased by Continental Investors Services Inc.

Continental Investors Services Inc. purchased a new position in Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 154,688 shares of the electronics maker’s stock, valued at approximately $11,504,000. Dolby Laboratories accounts for about 2.6% of Continental Investors Services Inc.’s investment portfolio, making the stock its 9th biggest holding.

A number of other large investors also recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Dolby Laboratories by 116.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,052,837 shares of the electronics maker’s stock valued at $290,021,000 after acquiring an additional 2,183,842 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of 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 last quarter. Wells Fargo & Company MN raised its holdings in shares of Dolby Laboratories by 58.4% during the second quarter. Wells Fargo & Company MN now owns 1,077,995 shares of the electronics maker’s stock valued at $77,142,000 after acquiring an additional 397,471 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Dolby Laboratories by 126.5% during the third quarter. Raymond James & Associates now owns 375,027 shares of the electronics maker’s stock valued at $24,433,000 after acquiring an additional 209,454 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of Dolby Laboratories by 55.0% during the first quarter. UBS Group AG now owns 339,670 shares of the electronics maker’s stock valued at $26,569,000 after acquiring an additional 120,496 shares during the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.

Dolby Laboratories Price Performance

DLB stock opened at $80.75 on Friday. The business has a 50 day simple moving average of $80.86 and a 200-day simple moving average of $73.61. The firm has a market capitalization of $7.74 billion, a PE ratio of 43.65, a price-to-earnings-growth ratio of 2.07 and a beta of 1.01. Dolby Laboratories, Inc. has a 1 year low of $61.55 and a 1 year high of $88.06.

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 22nd. Investors of record on Tuesday, February 14th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, February 13th. This represents a $1.08 annualized dividend and a yield of 1.34%. Dolby Laboratories’s payout ratio is 58.38%.

Insider Buying and Selling

In related news, CEO Kevin J. Yeaman sold 30,780 shares of the stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $83.49, for a total value of $2,569,822.20. Following the completion of the transaction, the chief executive officer now directly owns 51,879 shares in the company, valued at $4,331,377.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CMO Todd Pendleton sold 28,701 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $82.32, for a total value of $2,362,666.32. Following the completion of the transaction, the chief marketing officer now directly owns 38,580 shares in the company, valued at $3,175,905.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin J. Yeaman sold 30,780 shares of the company’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $83.49, for a total value of $2,569,822.20. Following the transaction, the chief executive officer now owns 51,879 shares in the company, valued at $4,331,377.71. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,604 shares of company stock worth $12,801,705. Company insiders own 39.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on DLB. StockNews.com began coverage on Dolby Laboratories in a report on Thursday. They set a “buy” rating for the company. Rosenblatt Securities upped their price target on Dolby Laboratories from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Finally, TheStreet upgraded Dolby Laboratories from a “c” rating to a “b” rating in a research report on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.67.

Dolby Laboratories Profile

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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. Its products include Cinema Imaging Products, Cinema Audio Products, and other products such as 3-D kits, broadcast hardware and software, monitors, and solutions for hearing impaired consumers.