US Bancorp DE Has $75,000 Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

US Bancorp DE decreased its position in Dolby Laboratories, Inc. (NYSE:DLB) by 66.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 983 shares of the electronics maker’s stock after selling 1,990 shares during the period. US Bancorp DE’s holdings in Dolby Laboratories were worth $75,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of DLB. State of Alaska Department of Revenue raised its position in shares of Dolby Laboratories by 143.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 27,937 shares of the electronics maker’s stock worth $2,137,000 after acquiring an additional 16,470 shares in the last quarter. Boston Trust Walden Corp grew its stake in Dolby Laboratories by 185.3% during the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after purchasing an additional 698,283 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Dolby Laboratories by 37.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,326 shares of the electronics maker’s stock worth $408,000 after purchasing an additional 1,465 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Dolby Laboratories by 135.2% in the third quarter. Assenagon Asset Management S.A. now owns 104,039 shares of the electronics maker’s stock valued at $7,962,000 after buying an additional 59,810 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Dolby Laboratories by 28.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 14,442 shares of the electronics maker’s stock valued at $1,105,000 after buying an additional 3,227 shares during the period. Institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total value of $2,113,309.44. Following the transaction, the chief executive officer now owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. The trade was a 25.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 39.54% of the company’s stock.

Dolby Laboratories Stock Performance

DLB stock opened at $71.73 on Friday. The stock’s 50 day simple moving average is $73.62 and its 200 day simple moving average is $76.16. The company has a market cap of $6.84 billion, a P/E ratio of 32.75 and a beta of 0.98. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $90.06.

Dolby Laboratories declared that its board has authorized a stock buyback plan on Wednesday, August 7th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

DLB has been the subject of several research analyst reports. Barrington Research reiterated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, September 20th. StockNews.com upgraded shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th.

Dolby Laboratories 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.