Dolby Laboratories, Inc. (NYSE:DLB) Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Posted by Defense World Staff on Feb 28th, 2023

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) by 148.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,354 shares of the electronics maker’s stock after purchasing an additional 6,778 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Dolby Laboratories were worth $740,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ronald Blue Trust Inc. raised its holdings in Dolby Laboratories by 89.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 374 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 177 shares during the period. National Bank of Canada FI acquired a new position in Dolby Laboratories in the 3rd quarter worth about $26,000. Zions Bancorporation N.A. acquired a new position in Dolby Laboratories in the 1st quarter worth about $42,000. Cullen Frost Bankers Inc. purchased a new stake in Dolby Laboratories during the 3rd quarter worth approximately $39,000. Finally, Covestor Ltd increased its stake in Dolby Laboratories by 53.7% during the 1st quarter. Covestor Ltd now owns 1,162 shares of the electronics maker’s stock worth $91,000 after buying an additional 406 shares in the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.

Dolby Laboratories Price Performance

DLB stock opened at $82.05 on Tuesday. The business has a 50 day simple moving average of $77.58 and a 200-day simple moving average of $73.13. The firm has a market capitalization of $7.86 billion, a PE ratio of 44.35, a price-to-earnings-growth ratio of 2.13 and a beta of 1.01. Dolby Laboratories, Inc. has a 1 year low of $61.55 and a 1 year high of $88.06.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 22nd. Stockholders of record on Tuesday, February 14th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, February 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.32%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 58.38%.

Insider Activity

In related news, CMO Todd Pendleton sold 28,701 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $82.32, for a total value of $2,362,666.32. Following the transaction, the chief marketing officer now directly owns 38,580 shares in the company, valued at $3,175,905.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CMO Todd Pendleton sold 28,701 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $82.32, for a total value of $2,362,666.32. Following the transaction, the chief marketing officer now directly owns 38,580 shares in the company, valued at $3,175,905.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Simon Segars sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $84.53, for a total value of $211,325.00. Following the completion of the transaction, the director now owns 37,150 shares in the company, valued at $3,140,289.50. The disclosure for this sale can be found here. Insiders sold 147,065 shares of company stock worth $12,239,040 over the last ninety days. Corporate insiders own 39.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DLB. Rosenblatt Securities boosted their price objective on Dolby Laboratories from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. TheStreet upgraded Dolby Laboratories from a “c” rating to a “b” rating in a research note on Friday, February 3rd. Barrington Research lowered Dolby Laboratories from an “outperform” rating to a “market perform” rating in a research note on Friday, November 18th. Finally, StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, February 3rd. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dolby Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $98.67.

Dolby Laboratories Profile

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Dolby Laboratories, Inc engages in the provision of audio and imaging technologies. It transforms entertainment and communications for content playback in movies, television, music, and gaming. Its products include Cinema Imaging Products, Cinema Audio Products, and other products such as 3-D kits, broadcast hardware and software, monitors, and solutions for hearing impaired consumers.