First Trust Advisors LP Raises Stake in Dolby Laboratories, Inc. (NYSE:DLB)

First Trust Advisors LP raised its position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 794,772 shares of the electronics maker's stock after purchasing an additional 7,265 shares during the period. First Trust Advisors LP owned 0.83% of Dolby Laboratories worth $62,072,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Lord Abbett & CO. LLC increased its holdings in Dolby Laboratories by 5.8% in the third quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker's stock worth $21,771,000 after purchasing an additional 15,546 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Dolby Laboratories by 10,441,900.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker's stock valued at $8,123,000 after acquiring an additional 104,419 shares in the last quarter. Barclays PLC lifted its position in shares of Dolby Laboratories by 80.5% during the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker's stock valued at $2,544,000 after acquiring an additional 14,825 shares during the period. Franklin Resources Inc. lifted its position in shares of Dolby Laboratories by 22.0% during the 3rd quarter. Franklin Resources Inc. now owns 47,247 shares of the electronics maker's stock valued at $3,513,000 after acquiring an additional 8,509 shares during the period. Finally, AlphaQuest LLC boosted its stake in Dolby Laboratories by 111.1% during the fourth quarter. AlphaQuest LLC now owns 6,148 shares of the electronics maker's stock worth $480,000 after acquiring an additional 3,235 shares in the last quarter. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Stock Up 0.3 %

DLB stock traded up $0.21 during mid-day trading on Monday, reaching $75.96. 32,265 shares of the company traded hands, compared to its average volume of 452,218. The firm's 50 day moving average price is $78.32 and its 200 day moving average price is $78.30. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 27.94 and a beta of 0.94. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.74%. Dolby Laboratories's dividend payout ratio (DPR) is currently 48.53%.

Insider Activity at Dolby Laboratories

In related news, CMO Todd Pendleton sold 18,121 shares of the firm'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 transaction, the chief marketing officer now directly owns 37,290 shares of the company's stock, valued at $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Andrew Sherman sold 40,000 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the transaction, the executive vice president now owns 62,397 shares in the company, valued at approximately $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.