Allspring Global Investments Holdings LLC Has $1.25 Million Position in Dolby Laboratories, Inc. (NYSE:DLB)

Allspring Global Investments Holdings LLC trimmed its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 90.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,519 shares of the electronics maker's stock after selling 140,514 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Dolby Laboratories were worth $1,251,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DLB. SG Americas Securities LLC lifted its position in Dolby Laboratories by 2.5% in the third quarter. SG Americas Securities LLC now owns 22,852 shares of the electronics maker's stock worth $1,811,000 after purchasing an additional 560 shares during the period. State of Alaska Department of Revenue lifted its position in Dolby Laboratories by 140.7% in the third quarter. State of Alaska Department of Revenue now owns 12,112 shares of the electronics maker's stock worth $959,000 after purchasing an additional 7,080 shares during the period. Exchange Traded Concepts LLC lifted its position in Dolby Laboratories by 53.7% in the third quarter. Exchange Traded Concepts LLC now owns 2,725 shares of the electronics maker's stock worth $216,000 after purchasing an additional 952 shares during the period. Boston Trust Walden Corp lifted its position in Dolby Laboratories by 0.5% in the third quarter. Boston Trust Walden Corp now owns 363,247 shares of the electronics maker's stock worth $28,791,000 after purchasing an additional 1,959 shares during the period. Finally, Oak Thistle LLC lifted its position in Dolby Laboratories by 31.4% in the third quarter. Oak Thistle LLC now owns 12,698 shares of the electronics maker's stock worth $1,006,000 after purchasing an additional 3,032 shares during the period. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Stock Performance

DLB traded up $0.48 during trading on Wednesday, reaching $79.64. The company had a trading volume of 208,300 shares, compared to its average volume of 366,542. The firm's 50-day simple moving average is $81.57 and its 200 day simple moving average is $83.36. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 41.26 and a beta of 0.97. Dolby Laboratories, Inc. has a 12-month low of $75.87 and a 12-month high of $91.01.

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

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $1.20 dividend on an annualized basis and a yield of 1.51%. Dolby Laboratories's dividend payout ratio is currently 62.18%.

Insider Buying and Selling

In related news, SVP John D. Couling sold 33,560 shares of Dolby Laboratories stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $80.81, for a total value of $2,711,983.60. Following the transaction, the senior vice president now owns 108,519 shares of the company's stock, valued at approximately $8,769,420.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 39.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

DLB has been the subject of a number of research analyst reports. StockNews.com upgraded Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, February 2nd. Rosenblatt Securities restated a "buy" rating and issued a $98.00 target price on shares of Dolby Laboratories in a report on Wednesday, January 31st.

About Dolby Laboratories

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.