Northern Trust Corp Has $45.46 Million Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Northern Trust Corp grew its position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 582,004 shares of the electronics maker's stock after buying an additional 30,826 shares during the period. Northern Trust Corp owned 0.61% of Dolby Laboratories worth $45,455,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock worth $28,000 after acquiring an additional 163 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after purchasing an additional 301 shares during the period. Mather Group LLC. lifted its stake in shares of Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after purchasing an additional 142 shares during the period. Headlands Technologies LLC purchased a new position in Dolby Laboratories during the fourth quarter valued at $57,000. Finally, GAMMA Investing LLC raised its stake in Dolby Laboratories by 207.5% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock valued at $61,000 after buying an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company's stock.

Wall Street Analyst Weigh In

DLB has been the subject of several research analyst reports. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Friday, May 2nd. StockNews.com cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st. Finally, Rosenblatt Securities decreased their price target on shares of Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, May 2nd.

Dolby Laboratories Trading Up 3.1%

NYSE:DLB traded up $2.35 during trading hours on Monday, hitting $77.69. 374,569 shares of the stock were exchanged, compared to its average volume of 453,753. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The firm's fifty day moving average price is $77.07 and its 200 day moving average price is $78.41. The company has a market cap of $7.41 billion, a P/E ratio of 28.56 and a beta of 0.95.

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

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.70%. Dolby Laboratories's dividend payout ratio (DPR) is 49.81%.

Insider Transactions at Dolby Laboratories

In other news, SVP John D. Couling sold 675 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $75.04, for a total value of $50,652.00. Following the completion of the transaction, the senior vice president now directly owns 121,151 shares in the company, valued at $9,091,171.04. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Todd Pendleton sold 18,121 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the sale, the chief marketing officer now owns 37,290 shares of the company's stock, valued at $3,123,037.50. The trade was a 32.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.