10,676 Shares in Dolby Laboratories, Inc. (NYSE:DLB) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,676 shares of the electronics maker's stock, valued at approximately $834,000.

Several other large investors have also recently added to or reduced their stakes in DLB. ExodusPoint Capital Management LP acquired a new position in Dolby Laboratories during the 4th quarter worth approximately $11,459,000. Bryce Point Capital LLC purchased a new stake in shares of Dolby Laboratories in the fourth quarter valued at approximately $1,670,000. Headlands Technologies LLC acquired a new position in Dolby Laboratories during the fourth quarter worth $57,000. Cornercap Investment Counsel Inc. purchased a new position in Dolby Laboratories in the fourth quarter worth $431,000. Finally, Palogic Value Management L.P. lifted its holdings in Dolby Laboratories by 6.4% in the fourth quarter. Palogic Value Management L.P. now owns 3,888 shares of the electronics maker's stock valued at $304,000 after acquiring an additional 235 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com cut shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st. Barrington Research reiterated an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, February 13th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th.

Dolby Laboratories Price Performance

Shares of NYSE DLB traded down $0.57 on Wednesday, hitting $73.37. The company's stock had a trading volume of 41,664 shares, compared to its average volume of 485,052. The stock has a 50 day moving average of $80.05 and a 200-day moving average of $78.39. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 26.98 and a beta of 0.94. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories's payout ratio is currently 48.53%.

Insider Buying and Selling at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the completion of the sale, the executive vice president now directly owns 62,397 shares in the company, valued at $5,296,257.36. The trade was a 39.06 % 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, CAO Ryan Nicholson sold 7,000 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,758 shares of the company's stock, valued at approximately $2,501,755.06. This represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,121 shares of company stock worth $5,501,324. 38.39% of the stock is owned by 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.