Dolby Laboratories, Inc. (NYSE:DLB) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in Dolby Laboratories, Inc. (NYSE:DLB) by 18.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 14,665 shares of the electronics maker’s stock after buying an additional 2,288 shares during the quarter. Victory Capital Management Inc.’s holdings in Dolby Laboratories were worth $1,122,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Ninety One UK Ltd raised its holdings in Dolby Laboratories by 2.6% during the second quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker’s stock worth $185,791,000 after purchasing an additional 60,114 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Dolby Laboratories by 0.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,402,623 shares of the electronics maker’s stock worth $111,130,000 after buying an additional 10,852 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Dolby Laboratories by 185.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after buying an additional 698,283 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Dolby Laboratories by 3.5% in the 2nd quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker’s stock valued at $80,041,000 after buying an additional 33,848 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Dolby Laboratories by 27.0% in the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock valued at $62,817,000 after buying an additional 168,744 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 7,000 shares of the company’s 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 transaction, the senior vice president now directly owns 106,806 shares in the company, valued at approximately $8,597,883. This represents a 6.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin J. Yeaman sold 28,512 shares of Dolby Laboratories stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the sale, the chief executive officer now owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. This trade represents a 25.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,591 shares of company stock worth $7,158,807. 39.54% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on DLB. Barrington Research reissued an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Wednesday, November 20th. Rosenblatt Securities raised their price objective on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

Dolby Laboratories Stock Performance

Dolby Laboratories stock opened at $80.33 on Wednesday. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $90.06. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 29.64 and a beta of 0.98. The stock’s fifty day moving average is $74.50 and its two-hundred day moving average is $75.96.

Dolby Laboratories declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 7th that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the electronics maker to repurchase up to 5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Dolby Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 1.64%. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s dividend payout ratio is presently 48.71%.

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.