Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by UBS Group AG

UBS Group AG lowered its position in shares of Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) by 21.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,764 shares of the electronics maker’s stock after selling 40,815 shares during the period. UBS Group AG owned approximately 0.16% of Dolby Laboratories worth $10,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of Dolby Laboratories by 31.4% during the 1st quarter. JPMorgan Chase & Co. now owns 126,310 shares of the electronics maker’s stock worth $9,880,000 after purchasing an additional 30,158 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Dolby Laboratories by 4.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,186 shares of the electronics maker’s stock worth $797,000 after purchasing an additional 418 shares during the period. Private Advisor Group LLC boosted its position in shares of Dolby Laboratories by 7.8% during the 1st quarter. Private Advisor Group LLC now owns 6,277 shares of the electronics maker’s stock worth $491,000 after purchasing an additional 456 shares during the period. MetLife Investment Management LLC purchased a new position in shares of Dolby Laboratories during the 1st quarter worth approximately $100,000. Finally, Great West Life Assurance Co. Can boosted its position in shares of Dolby Laboratories by 3.4% during the 1st 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 period. Institutional investors and hedge funds own 82.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Anjali Sud sold 8,873 shares of the business’s stock in a transaction on 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 transaction, the director now owns 6,079 shares in the company, valued at $498,478. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Kevin J. Yeaman sold 9,030 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $83.65, for a total value of $755,359.50. Following the completion of the sale, the chief executive officer now directly owns 51,879 shares of the company’s stock, valued at $4,339,678.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Anjali Sud sold 8,873 shares of the business’s stock in a transaction on 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 directly owns 6,079 shares of the company’s stock, valued at $498,478. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,661 shares of company stock worth $7,806,456. Corporate insiders own 39.25% of the company’s stock.

Analyst Ratings Changes

DLB has been the subject of several recent research reports. TheStreet raised shares of Dolby Laboratories from a “c” rating to a “b” rating in a research report on Friday, February 3rd. StockNews.com initiated coverage on shares of Dolby Laboratories in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Rosenblatt Securities raised their price target on shares of Dolby Laboratories from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Finally, Tigress Financial reissued a “buy” rating and issued a $116.00 price target on shares of Dolby Laboratories in a research 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. Based on data from MarketBeat, Dolby Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

Dolby Laboratories Trading Down 0.3 %

Shares of DLB stock opened at $83.38 on Tuesday. The firm has a fifty day moving average price of $83.70 and a 200 day moving average price of $78.63. The company has a market cap of $7.96 billion, a P/E ratio of 33.76, a PEG ratio of 2.11 and a beta of 1.00. Dolby Laboratories, Inc. has a 12 month low of $61.55 and a 12 month high of $88.06.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 23rd. Investors of record on Tuesday, May 16th will be paid 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 1.30%. Dolby Laboratories’s payout ratio is currently 43.72%.

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.