Nuveen Asset Management LLC Purchases 12,812 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Nuveen Asset Management LLC boosted its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,274 shares of the electronics maker's stock after purchasing an additional 12,812 shares during the period. Nuveen Asset Management LLC owned about 0.22% of Dolby Laboratories worth $16,735,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in DLB. Bank of New York Mellon Corp lifted its position in shares of Dolby Laboratories by 64.2% during 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 buying an additional 1,887,518 shares during the last quarter. Norges Bank purchased a new position in shares of Dolby Laboratories during the 4th quarter valued at $55,356,000. Alyeska Investment Group L.P. purchased a new position in shares of Dolby Laboratories during the 4th quarter valued at $27,314,000. Frontier Capital Management Co. LLC purchased a new position in shares of Dolby Laboratories during the 4th quarter valued at $24,323,000. Finally, Oberweis Asset Management Inc. purchased a new position in shares of Dolby Laboratories during the 4th quarter valued at $14,136,000. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Price Performance

NYSE DLB traded up $0.15 during trading on Thursday, reaching $74.79. The company's stock had a trading volume of 55,026 shares, compared to its average volume of 455,155. The stock has a market capitalization of $7.18 billion, a PE ratio of 27.48 and a beta of 0.95. The firm has a fifty day moving average of $75.60 and a 200 day moving average of $78.55. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66.

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

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 13th were paid a $0.33 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $1.32 dividend on an annualized basis and a yield of 1.77%. Dolby Laboratories's dividend payout ratio is currently 49.81%.

Analysts Set New Price Targets

A number of research firms recently issued reports on DLB. Barrington Research reiterated an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, May 2nd. Rosenblatt Securities decreased their price objective on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Tigress Financial began coverage on Dolby Laboratories in a research note on Thursday, May 15th. They set a "buy" rating and a $112.00 price objective on the stock. Finally, Wall Street Zen lowered Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

Insiders Place Their Bets

In other news, SVP John D. Couling sold 675 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $75.04, for a total transaction of $50,652.00. Following the transaction, the senior vice president now directly owns 121,151 shares in the company, valued at approximately $9,091,171.04. This represents a 0.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.