Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,899 shares of the electronics maker’s stock after selling 520 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Dolby Laboratories were worth $1,447,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its position in Dolby Laboratories by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock worth $117,767,000 after buying an additional 63,293 shares during the period. Disciplined Growth Investors Inc. MN grew its position 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 worth $112,209,000 after acquiring an additional 63,589 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Dolby Laboratories by 26.6% in the 3rd quarter. M&T Bank Corp now owns 4,045 shares of the electronics maker’s stock valued at $310,000 after acquiring an additional 849 shares during the period. Barclays PLC raised its position in Dolby Laboratories by 80.5% in the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock valued at $2,544,000 after purchasing an additional 14,825 shares during the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in Dolby Laboratories in the 3rd quarter valued at $831,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on DLB shares. Rosenblatt Securities lifted their price objective on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 4th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Wednesday, November 20th.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock opened at $78.48 on Wednesday. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $87.12. The company has a market cap of $7.49 billion, a P/E ratio of 28.96 and a beta of 0.98. The firm has a fifty day moving average of $76.01 and a two-hundred day moving average of $75.73.

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 given a $0.33 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 1.68%. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.71%.

Insider Buying and Selling at Dolby Laboratories

In other news, SVP John D. Couling sold 7,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.50, for a total value of $563,500.00. Following the completion of the transaction, the senior vice president now owns 106,806 shares in the company, valued at $8,597,883. This trade represents a 6.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Gotcher sold 6,079 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $78.96, for a total transaction of $479,997.84. Following the sale, the director now directly owns 37,593 shares in the company, valued at approximately $2,968,343.28. This represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,091 shares of company stock valued at $12,027,697. 39.54% of the stock is owned by corporate insiders.

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.