Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in Dolby Laboratories, Inc. (NYSE:DLB) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 266,848 shares of the electronics maker’s stock after selling 10,339 shares during the period. New York State Common Retirement Fund’s holdings in Dolby Laboratories were worth $22,997,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of DLB. VisionPoint Advisory Group LLC increased its position in shares of Dolby Laboratories by 86.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 172 shares during the last quarter. Blue Trust Inc. grew its position in shares of Dolby Laboratories by 75.7% in the 4th quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock valued at $29,000 after buying an additional 159 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Dolby Laboratories by 175.3% in the 3rd quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker’s stock valued at $35,000 after buying an additional 284 shares during the last quarter. Platinum Investment Management Ltd. purchased a new position in shares of Dolby Laboratories in the 3rd quarter valued at $109,000. Finally, Column Capital Advisors LLC grew its position in shares of Dolby Laboratories by 20.1% in the 3rd quarter. Column Capital Advisors LLC now owns 1,462 shares of the electronics maker’s stock valued at $116,000 after buying an additional 245 shares during the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the transaction, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at approximately $8,769,420.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 39.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

DLB has been the topic of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a research report on Wednesday, January 31st. StockNews.com raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd.

Dolby Laboratories Price Performance

NYSE DLB opened at $79.32 on Friday. Dolby Laboratories, Inc. has a 12 month low of $75.87 and a 12 month high of $91.01. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 41.10 and a beta of 0.97. The firm’s fifty day moving average price is $81.62 and its 200 day moving average price is $83.30.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. The company had revenue of $315.57 million for the quarter, compared to the consensus estimate of $310.98 million. As a group, sell-side analysts forecast that Dolby Laboratories, Inc. will post 2.6 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Monday, February 12th. Dolby Laboratories’s payout ratio is currently 62.18%.

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.