Ninety One UK Ltd Decreases Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Ninety One UK Ltd reduced its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 76.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 509,927 shares of the electronics maker’s stock after selling 1,689,815 shares during the quarter. Ninety One UK Ltd owned 0.53% of Dolby Laboratories worth $39,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Dolby Laboratories by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after acquiring an additional 63,293 shares during the period. Lord Abbett & CO. LLC lifted its position in Dolby Laboratories by 5.8% during the third quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock valued at $21,771,000 after purchasing an additional 15,546 shares during the period. Barclays PLC boosted its holdings in Dolby Laboratories by 80.5% in the third quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock worth $2,544,000 after purchasing an additional 14,825 shares during the last quarter. Boston Trust Walden Corp grew its position in Dolby Laboratories by 185.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after purchasing an additional 698,283 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in Dolby Laboratories during the 3rd quarter valued at $3,031,000. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Price Performance

Shares of DLB stock opened at $84.52 on Wednesday. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The firm has a fifty day moving average price of $79.51 and a 200-day moving average price of $75.75. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 31.07 and a beta of 0.98.

Dolby Laboratories Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DLB. StockNews.com downgraded Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Barrington Research reissued an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Monday, January 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, January 30th.

Insider Transactions at Dolby Laboratories

In related news, SVP John D. Couling sold 7,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.50, for a total value of $563,500.00. Following the completion of the sale, the senior vice president now directly owns 106,806 shares of the company’s stock, valued at approximately $8,597,883. This represents a 6.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total transaction of $479,997.84. Following the transaction, the director now directly owns 37,593 shares in the company, valued at $2,968,343.28. This represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,917 shares of company stock valued at $14,272,939 over the last quarter. 38.39% of the stock is currently owned by company insiders.

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.