Allspring Global Investments Holdings LLC Acquires 104,419 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Allspring Global Investments Holdings LLC lifted its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 10,441,900.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,420 shares of the electronics maker’s stock after buying an additional 104,419 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.11% of Dolby Laboratories worth $8,123,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Savant Capital LLC grew its stake in shares of Dolby Laboratories by 2.0% in the 4th quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker’s stock worth $490,000 after acquiring an additional 125 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Dolby Laboratories by 5.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock worth $201,000 after purchasing an additional 136 shares during the last quarter. Mather Group LLC. grew its position in Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after purchasing an additional 142 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after buying an additional 146 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock worth $28,000 after buying an additional 163 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Stock Up 1.0 %

Shares of NYSE DLB opened at $84.61 on Wednesday. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 31.11 and a beta of 0.98. The firm’s fifty day moving average is $80.46 and its 200 day moving average is $76.16. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Tuesday, February 11th. Dolby Laboratories’s payout ratio is 48.53%.

Insider Activity

In other Dolby Laboratories news, CAO Ryan Nicholson sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the sale, the chief accounting officer now directly owns 29,758 shares in the company, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Gotcher sold 6,079 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $78.96, for a total transaction of $479,997.84. Following the completion of the transaction, the director now owns 37,593 shares in the company, valued at approximately $2,968,343.28. This represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,917 shares of company stock worth $14,861,429. Corporate insiders own 38.39% of the company’s stock.

Wall Street Analysts Forecast Growth

DLB has been the subject of a number of research analyst reports. Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th. Finally, StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st.

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.