Fmr LLC Has $873,000 Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Fmr LLC lessened its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 35.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,403 shares of the electronics maker’s stock after selling 6,170 shares during the quarter. Fmr LLC’s holdings in Dolby Laboratories were worth $873,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Trust Walden Corp increased its holdings in shares of Dolby Laboratories by 185.3% in the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after acquiring an additional 698,283 shares in the last quarter. Acadian Asset Management LLC increased its stake in Dolby Laboratories by 39.8% during the 2nd quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock worth $51,698,000 after purchasing an additional 185,884 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Dolby Laboratories by 27.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after buying an additional 168,744 shares during the period. AQR Capital Management LLC lifted its stake in Dolby Laboratories by 16.2% in the second quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker’s stock valued at $49,690,000 after buying an additional 87,298 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Dolby Laboratories by 496.7% in the third quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock valued at $7,823,000 after buying an additional 85,093 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Stock Down 1.6 %

Shares of DLB stock opened at $77.94 on Tuesday. The firm has a market cap of $7.44 billion, a PE ratio of 28.76 and a beta of 0.98. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $87.12. The company’s fifty day simple moving average is $75.92 and its 200-day simple moving average is $75.75.

Dolby Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio is currently 48.71%.

Insider Transactions at Dolby Laboratories

In other news, SVP John D. Couling sold 7,000 shares of Dolby Laboratories stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.50, for a total value of $563,500.00. Following the completion of the transaction, the senior vice president now owns 106,806 shares of the company’s stock, valued at $8,597,883. This trade represents a 6.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ryan Nicholson sold 10,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total transaction of $841,890.00. Following the transaction, the chief accounting officer now owns 24,364 shares in the company, valued at $1,953,505.52. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,091 shares of company stock worth $12,027,697 in the last three months. Insiders own 39.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DLB. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Wednesday, November 20th. StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities upped their price objective on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th.

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.