Allspring Global Investments Holdings LLC raised its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB – Free Report) by 921.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 137,741 shares of the electronics maker’s stock after acquiring an additional 124,250 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.14% of Dolby Laboratories worth $11,526,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake in Dolby Laboratories by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 5,970 shares of the electronics maker’s stock valued at $510,000 after acquiring an additional 128 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Dolby Laboratories by 52.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 400 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 138 shares during the last quarter. Signaturefd LLC raised its stake in Dolby Laboratories by 5.3% during the 1st quarter. Signaturefd LLC now owns 3,127 shares of the electronics maker’s stock valued at $267,000 after acquiring an additional 157 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Dolby Laboratories by 3.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,954 shares of the electronics maker’s stock valued at $409,000 after acquiring an additional 164 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Dolby Laboratories by 3.4% during the 2nd quarter. Captrust Financial Advisors now owns 5,071 shares of the electronics maker’s stock worth $363,000 after buying an additional 167 shares in the last quarter. 56.37% of the stock is owned by hedge funds and other institutional investors.
Dolby Laboratories Stock Performance
Shares of NYSE:DLB opened at $80.97 on Wednesday. The business’s fifty day moving average price is $81.60 and its two-hundred day moving average price is $83.12. The stock has a market cap of $7.74 billion, a PE ratio of 35.98 and a beta of 0.99. Dolby Laboratories, Inc. has a one year low of $64.79 and a one year high of $91.01.
Dolby Laboratories Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 22nd. Shareholders of record on Monday, August 14th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Friday, August 11th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.00%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. StockNews.com assumed coverage on Dolby Laboratories in a research note on Thursday, October 5th. They set a “hold” rating for the company. TheStreet downgraded Dolby Laboratories from a “b” rating to a “c+” rating in a research note on Friday, August 4th. Finally, Rosenblatt Securities raised their price objective on Dolby Laboratories from $93.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Dolby Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.00.
View Our Latest Analysis on Dolby Laboratories
Insider Buying and Selling at Dolby Laboratories
In other news, CMO Todd Pendleton sold 6,889 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $84.41, for a total transaction of $581,500.49. Following the sale, the chief marketing officer now owns 36,976 shares in the company, valued at $3,121,144.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Kevin J. Yeaman sold 18,060 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $82.62, for a total transaction of $1,492,117.20. Following the sale, the chief executive officer now owns 51,879 shares in the company, valued at $4,286,242.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Todd Pendleton sold 6,889 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $84.41, for a total value of $581,500.49. Following the sale, the chief marketing officer now owns 36,976 shares in the company, valued at approximately $3,121,144.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,979 shares of company stock worth $2,816,967. 39.25% of the stock is owned by insiders.
Dolby Laboratories Profile
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. 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.
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