Bank of Nova Scotia trimmed its holdings in Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) by 58.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,540 shares of the electronics maker’s stock after selling 6,321 shares during the period. Bank of Nova Scotia’s holdings in Dolby Laboratories were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of DLB. First Trust Advisors LP grew its stake in Dolby Laboratories by 320.2% in the 1st quarter. First Trust Advisors LP now owns 1,081,747 shares of the electronics maker’s stock valued at $84,614,000 after buying an additional 824,296 shares in the last quarter. Continental Investors Services Inc. purchased a new position in Dolby Laboratories in the 3rd quarter valued at approximately $11,504,000. UBS Group AG grew its stake in Dolby Laboratories by 55.0% in the 1st quarter. UBS Group AG now owns 339,670 shares of the electronics maker’s stock valued at $26,569,000 after buying an additional 120,496 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new position in Dolby Laboratories in the 3rd quarter valued at approximately $7,701,000. Finally, Raymond James & Associates grew its stake in Dolby Laboratories by 28.7% in the 4th quarter. Raymond James & Associates now owns 482,715 shares of the electronics maker’s stock valued at $34,051,000 after buying an additional 107,688 shares in the last quarter. 82.30% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Dolby Laboratories
In other news, CEO Kevin J. Yeaman sold 30,779 shares of Dolby Laboratories stock in a transaction on Tuesday, April 11th. The shares were sold at an average price of $84.44, for a total transaction of $2,598,978.76. Following the completion of the sale, the chief executive officer now directly owns 51,879 shares of the company’s stock, valued at approximately $4,380,662.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 30,779 shares of the business’s stock in a transaction on Tuesday, April 11th. The shares were sold at an average price of $84.44, for a total value of $2,598,978.76. Following the completion of the sale, the chief executive officer now directly owns 51,879 shares of the company’s stock, valued at $4,380,662.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Andrew Sherman sold 15,000 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $83.59, for a total transaction of $1,253,850.00. Following the completion of the sale, the executive vice president now directly owns 56,374 shares of the company’s stock, valued at $4,712,302.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,960 shares of company stock valued at $5,443,790. Insiders own 39.25% of the company’s stock.
Analysts Set New Price Targets
Dolby Laboratories Stock Performance
NYSE DLB opened at $81.90 on Thursday. Dolby Laboratories, Inc. has a 52-week low of $61.55 and a 52-week high of $88.06. The company has a market capitalization of $7.82 billion, a P/E ratio of 33.16, a P/E/G ratio of 2.11 and a beta of 1.00. The company has a fifty day moving average of $83.78 and a 200-day moving average of $78.77.
Dolby Laboratories Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 23rd. Stockholders of record on Tuesday, May 16th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Monday, May 15th. Dolby Laboratories’s dividend payout ratio is currently 43.72%.
About Dolby Laboratories
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.
Featured Articles
- Get a free copy of the StockNews.com research report on Dolby Laboratories (DLB)
- Toll Brothers Rises On Results, But The Roof Is In Place
- It’s Time To Try On VF Corporation’s 6% Yield
- PetCo Management Getting it Right? Earnings Beat Says Yes
- Axcelis Stock In Buy Range After Chart Breakout, Strong Guidance
- Kohl’s 10% Yield Comes Into High Fashion
Want to see what other hedge funds are holding DLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dolby Laboratories, Inc. (NYSE:DLB – Get Rating).
Receive News & Ratings for Dolby Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.
