Baillie Gifford & Co. Reduces Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Baillie Gifford & Co. cut its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 475,552 shares of the electronics maker's stock after selling 56,177 shares during the quarter. Baillie Gifford & Co. owned approximately 0.50% of Dolby Laboratories worth $40,983,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP grew its position in shares of Dolby Laboratories by 248.2% in the 2nd quarter. Quarry LP now owns 296 shares of the electronics maker's stock worth $25,000 after buying an additional 211 shares during the period. Blue Trust Inc. boosted its stake in Dolby Laboratories by 75.7% in the 4th quarter. Blue Trust Inc. now owns 369 shares of the electronics maker's stock worth $29,000 after purchasing an additional 159 shares in the last quarter. VisionPoint Advisory Group LLC boosted its stake in Dolby Laboratories by 86.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker's stock worth $29,000 after purchasing an additional 172 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Dolby Laboratories by 52.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 400 shares of the electronics maker's stock worth $34,000 after purchasing an additional 138 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Dolby Laboratories by 175.3% in the 3rd quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker's stock worth $35,000 after purchasing an additional 284 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Down 2.4 %

DLB traded down $2.03 during midday trading on Wednesday, hitting $81.36. 383,834 shares of the company traded hands, compared to its average volume of 382,025. The firm has a market capitalization of $7.78 billion, a PE ratio of 42.16 and a beta of 0.97. The company's 50-day moving average is $81.78 and its 200 day moving average is $83.36. Dolby Laboratories, Inc. has a 52 week low of $75.87 and a 52 week high of $91.01.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. The firm had revenue of $315.57 million for the quarter, compared to analysts' expectations of $310.98 million. On average, sell-side analysts predict that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, February 12th. Dolby Laboratories's dividend payout ratio is 62.18%.

Insider Buying and Selling

In related news, SVP John D. Couling sold 33,560 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $80.81, for a total value of $2,711,983.60. Following the completion of the sale, the senior vice president now directly owns 108,519 shares of the company's stock, valued at approximately $8,769,420.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 9,030 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $83.51, for a total transaction of $754,095.30. Following the completion of the sale, the chief executive officer now directly owns 83,721 shares of the company's stock, valued at approximately $6,991,540.71. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP John D. Couling sold 33,560 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the sale, the senior vice president now directly owns 108,519 shares of the company's stock, valued at $8,769,420.39. The disclosure for this sale can be found here. 39.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on DLB. Rosenblatt Securities reiterated a "buy" rating and issued a $98.00 price target on shares of Dolby Laboratories in a research note on Wednesday, January 31st. StockNews.com upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, February 2nd.

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.