Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Aviva PLC

Aviva PLC decreased its holdings in Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) by 35.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,143 shares of the electronics maker’s stock after selling 7,740 shares during the quarter. Aviva PLC’s holdings in Dolby Laboratories were worth $998,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DLB. Vanguard Group Inc. raised its position in shares of Dolby Laboratories by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 6,257,157 shares of the electronics maker’s stock worth $489,435,000 after purchasing an additional 99,453 shares during the last quarter. State Street Corp lifted its position in shares of Dolby Laboratories by 3.3% in the second quarter. State Street Corp now owns 1,100,832 shares of the electronics maker’s stock valued at $78,776,000 after acquiring an additional 34,834 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Dolby Laboratories by 320.2% in the first quarter. First Trust Advisors LP now owns 1,081,747 shares of the electronics maker’s stock worth $84,614,000 after acquiring an additional 824,296 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Dolby Laboratories by 7.4% during the first quarter. Lazard Asset Management LLC now owns 748,067 shares of the electronics maker’s stock worth $58,513,000 after purchasing an additional 51,779 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Dolby Laboratories by 4.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 637,528 shares of the electronics maker’s stock valued at $41,535,000 after purchasing an additional 25,742 shares during the last quarter. 82.30% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories Trading Up 0.2 %

Shares of DLB opened at $83.60 on Friday. Dolby Laboratories, Inc. has a 12-month low of $61.55 and a 12-month high of $88.06. The firm has a market capitalization of $7.98 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.11 and a beta of 1.00. The firm has a 50-day moving average price of $83.64 and a 200 day moving average price of $78.42.

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 23rd. Stockholders of record on Tuesday, May 16th will be issued a dividend of $0.27 per share. The ex-dividend date is Monday, May 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.29%. Dolby Laboratories’s dividend payout ratio is currently 43.72%.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 15,000 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $83.59, for a total transaction of $1,253,850.00. Following the completion of the sale, the executive vice president now owns 56,374 shares of the company’s stock, valued at $4,712,302.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Dolby Laboratories news, Director Emily Rollins sold 1,000 shares of the stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $84.70, for a total transaction of $84,700.00. Following the completion of the transaction, the director now owns 5,541 shares of the company’s stock, valued at $469,322.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Andrew Sherman sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $83.59, for a total transaction of $1,253,850.00. Following the completion of the sale, the executive vice president now directly owns 56,374 shares in the company, valued at $4,712,302.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,661 shares of company stock worth $7,806,456. Insiders own 39.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DLB. Rosenblatt Securities lifted their target price on shares of Dolby Laboratories from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. StockNews.com started coverage on shares of Dolby Laboratories in a report on Thursday. They issued a “buy” rating for the company. TheStreet upgraded Dolby Laboratories from a “c” rating to a “b” rating in a report on Friday, February 3rd. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $116.00 price target on shares of Dolby Laboratories in a report on Friday, April 14th. One research 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 stock presently has an average rating of “Moderate Buy” and an average target price of $103.00.

About Dolby Laboratories

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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.