Dolby Laboratories, Inc. (NYSE:DLB) Shares Purchased by State of Wyoming

State of Wyoming raised its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 110.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,410 shares of the electronics maker's stock after buying an additional 3,359 shares during the quarter. State of Wyoming's holdings in Dolby Laboratories were worth $501,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DLB. Vanguard Group Inc. boosted its holdings in Dolby Laboratories by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker's stock valued at $549,325,000 after acquiring an additional 68,771 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Dolby Laboratories by 64.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock valued at $376,948,000 after purchasing an additional 1,887,518 shares in the last quarter. Boston Trust Walden Corp lifted its stake in shares of Dolby Laboratories by 0.9% in the 4th quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker's stock valued at $84,715,000 after purchasing an additional 9,624 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Dolby Laboratories by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 901,707 shares of the electronics maker's stock worth $70,424,000 after purchasing an additional 31,164 shares during the period. Finally, First Trust Advisors LP increased its position in Dolby Laboratories by 0.9% during the 4th quarter. First Trust Advisors LP now owns 794,772 shares of the electronics maker's stock worth $62,072,000 after purchasing an additional 7,265 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Analyst Ratings Changes

DLB has been the topic of a number of recent research reports. Barrington Research reaffirmed an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Friday, May 2nd. Rosenblatt Securities reduced their target price on shares of Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Tigress Financial initiated coverage on Dolby Laboratories in a report on Thursday, May 15th. They issued a "buy" rating and a $112.00 price target for the company. Finally, StockNews.com cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 675 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $75.04, for a total transaction of $50,652.00. Following the completion of the transaction, the senior vice president now directly owns 121,151 shares of the company's stock, valued at $9,091,171.04. This trade represents a 0.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Todd Pendleton sold 18,121 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were 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 owns 37,290 shares in the company, valued at approximately $3,123,037.50. This trade represents a 32.70% decrease in their position. The disclosure for this sale can be found here. 38.39% of the stock is currently owned by company insiders.

Dolby Laboratories Stock Down 0.9%

Shares of NYSE:DLB opened at $76.89 on Tuesday. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 28.27 and a beta of 0.95. The company has a 50 day moving average of $76.48 and a two-hundred day moving average of $78.58. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.05. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The business had revenue of $369.56 million during the quarter, compared to analyst estimates of $375.44 million. During the same period last year, the business earned $1.27 EPS. The business's revenue was up 1.4% on a year-over-year basis. On average, equities analysts anticipate that Dolby Laboratories, Inc. will post 2.94 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, May 13th. Dolby Laboratories's dividend payout ratio (DPR) is 49.81%.

Dolby Laboratories 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.

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