Artisan Partners Limited Partnership Increases Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Artisan Partners Limited Partnership boosted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 136,711 shares of the electronics maker’s stock after buying an additional 1,720 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Dolby Laboratories were worth $10,677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of DLB. Vanguard Group Inc. increased its stake in shares of Dolby Laboratories by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker’s stock worth $549,325,000 after purchasing an additional 68,771 shares in the last quarter. Bank of New York Mellon Corp increased its position in Dolby Laboratories by 64.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock worth $376,948,000 after buying an additional 1,887,518 shares in the last quarter. State Street Corp raised its holdings in shares of Dolby Laboratories by 1.5% in the third quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock worth $147,824,000 after acquiring an additional 29,289 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Dolby Laboratories by 4.3% in the third 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 in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in shares of Dolby Laboratories by 4.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after acquiring an additional 63,589 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DLB. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, January 30th. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Barrington Research restated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, February 13th.

Dolby Laboratories Trading Down 2.1 %

Dolby Laboratories stock opened at $79.94 on Friday. The stock has a fifty day moving average price of $82.25 and a 200 day moving average price of $78.19. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66. The firm has a market capitalization of $7.63 billion, a P/E ratio of 29.39 and a beta of 1.01.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Insider Transactions at Dolby Laboratories

In other news, CMO Todd Pendleton sold 18,121 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at $3,123,037.50. This represents a 32.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the completion of the transaction, the chief accounting officer now owns 29,758 shares in the company, valued at $2,501,755.06. The trade was a 19.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,121 shares of company stock worth $5,501,324 in the last three months. Company insiders own 38.39% of the company’s stock.

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.