Thrivent Financial for Lutherans Grows Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Thrivent Financial for Lutherans grew its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 496.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 102,223 shares of the electronics maker’s stock after acquiring an additional 85,093 shares during the period. Thrivent Financial for Lutherans’ holdings in Dolby Laboratories were worth $7,823,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. First Affirmative Financial Network grew its position in Dolby Laboratories by 4.9% in the second quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker’s stock worth $219,000 after acquiring an additional 129 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of Dolby Laboratories by 6.0% in the 2nd quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock worth $182,000 after purchasing an additional 130 shares during the period. Signaturefd LLC increased its position in shares of Dolby Laboratories by 5.1% during the 2nd quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock valued at $251,000 after purchasing an additional 153 shares during the last quarter. Mitchell & Pahl Private Wealth LLC raised its holdings in Dolby Laboratories by 1.3% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock valued at $1,095,000 after buying an additional 174 shares during the period. Finally, GAMMA Investing LLC lifted its position in Dolby Laboratories by 64.6% in the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock worth $39,000 after buying an additional 192 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Price Performance

DLB stock opened at $80.57 on Friday. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $90.06. The firm’s 50-day moving average is $74.33 and its 200 day moving average is $76.07. The company has a market capitalization of $7.68 billion, a PE ratio of 29.73 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.33 per share. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio (DPR) is presently 44.28%.

Dolby Laboratories declared that its Board of Directors has approved a share repurchase program on Wednesday, August 7th that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the electronics maker to reacquire up to 5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

DLB has been the topic of a number of analyst reports. Rosenblatt Securities boosted their price objective on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com upgraded shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Monday, November 18th. Finally, Barrington Research reissued an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Wednesday.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, Director Peter C. Gotcher sold 6,079 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $78.96, for a total transaction of $479,997.84. Following the transaction, the director now owns 37,593 shares of the company’s stock, valued at approximately $2,968,343.28. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin J. Yeaman sold 28,512 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the completion of the sale, the chief executive officer now owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. This represents a 25.40 % decrease in their position. The disclosure for this sale can be found here. 39.54% of the stock is currently owned by corporate insiders.

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.