Swiss National Bank Lowers Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Swiss National Bank trimmed its holdings in Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) by 3.2% in the 4th quarter, HoldingsChannel reports. The firm owned 148,800 shares of the electronics maker’s stock after selling 4,900 shares during the quarter. Swiss National Bank’s holdings in Dolby Laboratories were worth $10,496,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Summit Global Investments boosted its position in shares of Dolby Laboratories by 0.4% during the third quarter. Summit Global Investments now owns 40,397 shares of the electronics maker’s stock worth $2,632,000 after acquiring an additional 146 shares during the last quarter. Heritage Wealth Management LLC boosted its holdings in shares of Dolby Laboratories by 4.1% during the 3rd quarter. Heritage Wealth Management LLC now owns 3,745 shares of the electronics maker’s stock valued at $244,000 after purchasing an additional 147 shares during the last quarter. Ronald Blue Trust Inc. grew its position in shares of Dolby Laboratories by 40.9% during the fourth quarter. Ronald Blue Trust Inc. now owns 527 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 153 shares in the last quarter. IFP Advisors Inc grew its position in shares of Dolby Laboratories by 6.8% during the third quarter. IFP Advisors Inc now owns 2,453 shares of the electronics maker’s stock valued at $156,000 after purchasing an additional 157 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Dolby Laboratories by 3.4% in the first quarter. Great West Life Assurance Co. Can now owns 4,954 shares of the electronics maker’s stock worth $409,000 after purchasing an additional 164 shares during the last quarter. 82.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DLB. Tigress Financial restated a “buy” rating and set a $116.00 price target on shares of Dolby Laboratories in a report on Friday, April 14th. TheStreet raised shares of Dolby Laboratories from a “c” rating to a “b” rating in a report on Friday, February 3rd. Rosenblatt Securities upped their price target on shares of Dolby Laboratories from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Finally, StockNews.com started coverage on shares of Dolby Laboratories in a research note on Thursday, March 16th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Dolby Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $103.00.

Dolby Laboratories Trading Up 0.5 %

DLB stock opened at $84.32 on Tuesday. Dolby Laboratories, Inc. has a 12 month low of $61.55 and a 12 month high of $88.06. The stock has a market cap of $8.05 billion, a PE ratio of 34.14, a P/E/G ratio of 2.21 and a beta of 1.01. The company has a 50-day moving average price of $83.50 and a 200 day moving average price of $78.04.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 23rd. Stockholders of record on Tuesday, May 16th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, May 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.28%. Dolby Laboratories’s dividend payout ratio is 43.72%.

Insider Buying and Selling

In other Dolby Laboratories news, Director Anjali Sud sold 8,873 shares of the stock in a transaction on Friday, February 24th. The stock was sold at an average price of $82.00, for a total value of $727,586.00. Following the sale, the director now owns 6,079 shares in the company, valued at $498,478. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Dolby Laboratories news, CMO Todd Pendleton sold 28,701 shares of the stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $82.32, for a total transaction of $2,362,666.32. Following the transaction, the chief marketing officer now directly owns 38,580 shares in the company, valued at approximately $3,175,905.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anjali Sud sold 8,873 shares of the business’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $82.00, for a total transaction of $727,586.00. Following the completion of the sale, the director now owns 6,079 shares of the company’s stock, valued at approximately $498,478. The disclosure for this sale can be found here. In the last three months, insiders sold 86,853 shares of company stock valued at $7,239,106. Insiders own 39.25% of the company’s stock.

Dolby Laboratories Profile

(Get Rating)

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.