Barclays PLC Increases Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Barclays PLC increased its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 80.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,230 shares of the electronics maker’s stock after acquiring an additional 14,825 shares during the quarter. Barclays PLC’s holdings in Dolby Laboratories were worth $2,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Trust Walden Corp increased its holdings 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 valued at $82,276,000 after buying an additional 698,283 shares during the period. Clifford Capital Partners LLC raised its position in shares of Dolby Laboratories by 3,114.7% in the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after acquiring an additional 262,162 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of 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 during the last quarter. Dimensional Fund Advisors LP boosted its position in Dolby Laboratories by 27.0% during the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock valued at $62,817,000 after purchasing an additional 168,744 shares in the last quarter. Finally, AQR Capital Management LLC grew 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 purchasing an additional 87,298 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DLB shares. Rosenblatt Securities raised their price target on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Wednesday, November 20th. Finally, StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 4th.

Insider Activity

In other news, Director Peter C. Gotcher sold 6,079 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the sale, the director now owns 37,593 shares in the company, valued at $2,968,343.28. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John D. Couling sold 50,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the transaction, the senior vice president now directly owns 106,806 shares of the company’s stock, valued at approximately $8,548,752.24. This trade represents a 31.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,429 shares of company stock valued at $12,991,048 over the last ninety days. 39.54% of the stock is currently owned by insiders.

Dolby Laboratories Stock Up 0.9 %

Shares of Dolby Laboratories stock opened at $78.28 on Wednesday. The company has a 50 day moving average price of $76.39 and a 200 day moving average price of $75.64. The firm has a market capitalization of $7.47 billion, a P/E ratio of 28.89 and a beta of 0.98. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $87.12.

Dolby Laboratories Increases Dividend

The business 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 is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Tuesday, December 3rd. Dolby Laboratories’s payout ratio is presently 48.71%.

About Dolby Laboratories

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.