US Bancorp DE Raises Position in Dolby Laboratories, Inc. (NYSE:DLB)

US Bancorp DE raised its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 23.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,218 shares of the electronics maker’s stock after acquiring an additional 235 shares during the quarter. US Bancorp DE’s holdings in Dolby Laboratories were worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp boosted its stake 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 acquiring an additional 163 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 301 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after acquiring an additional 142 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after acquiring an additional 525 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after acquiring an additional 146 shares during 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 news, EVP Mark Andrew Sherman sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.88, for a total value of $3,395,200.00. Following the sale, the executive vice president now directly owns 62,397 shares in the company, valued at $5,296,257.36. The trade was a 39.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Todd Pendleton sold 18,121 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the sale, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,459 shares of company stock worth $6,464,675. Insiders own 38.39% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of NYSE DLB opened at $81.92 on Monday. The company has a market cap of $7.82 billion, a P/E ratio of 30.12 and a beta of 1.01. The firm’s fifty day moving average is $81.69 and its two-hundred day moving average is $77.51. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were issued a $0.33 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.61%. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, January 30th. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Finally, Barrington Research restated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, February 13th.

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.