State Street Corp Has $147.82 Million Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

State Street Corp raised its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,931,586 shares of the electronics maker’s stock after acquiring an additional 29,289 shares during the quarter. State Street Corp owned about 2.03% of Dolby Laboratories worth $147,824,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of Dolby Laboratories by 398.8% in the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 331 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Dolby Laboratories in the 2nd quarter valued at about $37,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Dolby Laboratories by 192.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock valued at $46,000 after purchasing an additional 379 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 146 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in shares of Dolby Laboratories in the 3rd quarter valued at about $93,000. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

Dolby Laboratories stock opened at $79.14 on Friday. The company’s 50 day simple moving average is $75.86 and its 200 day simple moving average is $75.80. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.28. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 29.20 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.33 per share. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, December 3rd. This represents a $1.32 annualized dividend and a yield of 1.67%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.71%.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the transaction, the chief executive officer now owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. The trade was a 25.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John D. Couling sold 7,000 shares of Dolby Laboratories stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.50, for a total transaction of $563,500.00. Following the completion of the transaction, the senior vice president now directly owns 106,806 shares in the company, valued at approximately $8,597,883. The trade was a 6.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,091 shares of company stock valued at $12,027,697. 39.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DLB. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Wednesday, November 20th. Rosenblatt Securities lifted their price objective on shares of Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th.

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.