Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 266,848 shares of the electronics maker's stock after selling 10,339 shares during the quarter. New York State Common Retirement Fund owned approximately 0.28% of Dolby Laboratories worth $22,997,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. VisionPoint Advisory Group LLC lifted its holdings in Dolby Laboratories by 86.9% in the third quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 172 shares during the period. Blue Trust Inc. lifted its holdings in Dolby Laboratories by 75.7% in the fourth quarter. Blue Trust Inc. now owns 369 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 159 shares during the period. Fifth Third Bancorp lifted its holdings in Dolby Laboratories by 175.3% in the third quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker's stock valued at $35,000 after acquiring an additional 284 shares during the period. Platinum Investment Management Ltd. bought a new position in Dolby Laboratories in the third quarter valued at about $109,000. Finally, Column Capital Advisors LLC lifted its holdings in Dolby Laboratories by 20.1% in the third quarter. Column Capital Advisors LLC now owns 1,462 shares of the electronics maker's stock valued at $116,000 after acquiring an additional 245 shares during the period. Institutional investors own 58.56% of the company's stock.

Dolby Laboratories Stock Down 0.9 %

DLB traded down $0.71 during midday trading on Friday, reaching $79.20. The company had a trading volume of 229,852 shares, compared to its average volume of 261,711. The business has a 50-day moving average of $81.62 and a two-hundred day moving average of $83.31. The company has a market cap of $7.57 billion, a P/E ratio of 41.04 and a beta of 0.97. Dolby Laboratories, Inc. has a 1 year low of $75.87 and a 1 year 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 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.14. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. The business had revenue of $315.57 million during the quarter, compared to analysts' expectations of $310.98 million. On average, equities research analysts predict that Dolby Laboratories, Inc. will post 2.6 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Monday, February 12th. 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 the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the completion of the sale, the senior vice president now owns 108,519 shares in the company, valued at $8,769,420.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 39.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.