2Xideas AG Grows Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

2Xideas AG boosted its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 66.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 161,398 shares of the electronics maker’s stock after buying an additional 64,554 shares during the period. Dolby Laboratories comprises 1.7% of 2Xideas AG’s holdings, making the stock its 23rd biggest position. 2Xideas AG’s holdings in Dolby Laboratories were worth $12,605,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Savant Capital LLC lifted its holdings 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 buying an additional 125 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of Dolby Laboratories by 0.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker’s stock valued at $1,525,000 after acquiring an additional 132 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Dolby Laboratories by 5.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock valued at $201,000 after acquiring an additional 136 shares during the period. Mather Group LLC. increased its stake in shares of Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 142 shares in the last quarter. Finally, Naples Global Advisors LLC lifted its holdings in Dolby Laboratories by 0.4% during the fourth quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker’s stock valued at $2,791,000 after purchasing an additional 160 shares in the last quarter. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dolby Laboratories

In related news, 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 transaction, the chief marketing officer now owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Andrew Sherman sold 40,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the completion of the sale, the executive vice president now directly owns 62,397 shares in the company, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,121 shares of company stock valued at $5,501,324. Corporate insiders own 38.39% of the company’s stock.

Analysts Set New Price Targets

DLB has been the topic of a number of analyst reports. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, January 30th. Finally, 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.

Dolby Laboratories Price Performance

Dolby Laboratories stock opened at $72.54 on Friday. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The company has a market capitalization of $6.92 billion, a price-to-earnings ratio of 26.67 and a beta of 1.01. The firm’s fifty day moving average price is $82.03 and its 200 day moving average price is $78.52.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were given 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 1.82%. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

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.