Louisiana State Employees Retirement System Has $1.34 Million Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Louisiana State Employees Retirement System lowered its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,900 shares of the electronics maker’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Dolby Laboratories were worth $1,339,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. NEOS Investment Management LLC boosted its holdings in Dolby Laboratories by 5.0% during the fourth quarter. NEOS Investment Management LLC now owns 2,709 shares of the electronics maker’s stock worth $233,000 after buying an additional 129 shares during the last quarter. First Affirmative Financial Network boosted its stake in Dolby Laboratories by 4.9% during the 2nd quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker’s stock worth $219,000 after acquiring an additional 129 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its stake in Dolby Laboratories by 1.3% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock worth $1,095,000 after acquiring an additional 174 shares during the last quarter. GAMMA Investing LLC grew its holdings in Dolby Laboratories by 64.6% during the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 192 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in Dolby Laboratories by 65.0% in the fourth quarter. Quadrant Capital Group LLC now owns 505 shares of the electronics maker’s stock valued at $44,000 after purchasing an additional 199 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Stock Down 0.5 %

Dolby Laboratories stock opened at $71.57 on Monday. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $90.06. The company has a 50 day moving average of $76.77 and a 200-day moving average of $79.56. The stock has a market capitalization of $6.86 billion, a PE ratio of 36.52 and a beta of 0.99.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Monday, August 19th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 61.22%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DLB shares. Barrington Research reissued an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Friday, August 9th. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a research note on Friday, June 7th. Finally, StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, May 11th.

Insiders Place Their Bets

In other news, EVP Mark Andrew Sherman sold 2,283 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $79.62, for a total value of $181,772.46. Following the sale, the executive vice president now directly owns 58,325 shares in the company, valued at $4,643,836.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 39.54% of the company’s stock.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.