M&T Bank Corp Raises Position in Dolby Laboratories, Inc. (NYSE:DLB)

M&T Bank Corp boosted its position in Dolby Laboratories, Inc. (NYSE:DLB) by 26.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,045 shares of the electronics maker’s stock after purchasing an additional 849 shares during the period. M&T Bank Corp’s holdings in Dolby Laboratories were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its stake in shares of Dolby Laboratories by 1.5% in the third quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock valued at $147,824,000 after buying an additional 29,289 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Dolby Laboratories by 0.8% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,402,623 shares of the electronics maker’s stock worth $111,130,000 after acquiring an additional 10,852 shares during the last quarter. Boston Trust Walden Corp raised its stake in Dolby Laboratories by 185.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after acquiring an additional 698,283 shares during the period. Mackenzie Financial Corp lifted its holdings in Dolby Laboratories by 3.5% during the second quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker’s stock valued at $80,041,000 after purchasing an additional 33,848 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Dolby Laboratories by 27.0% during the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after purchasing an additional 168,744 shares during the period. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Stock Down 1.7 %

DLB stock opened at $77.17 on Thursday. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $87.12. The firm has a market capitalization of $7.36 billion, a PE ratio of 28.48 and a beta of 0.98. The stock has a 50-day simple moving average of $76.08 and a two-hundred day simple moving average of $75.74.

Dolby Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $1.32 annualized dividend and a yield of 1.71%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s payout ratio is currently 48.71%.

Insider Buying and Selling

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 12,338 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total value of $963,351.04. Following the transaction, the executive vice president now directly owns 62,397 shares in the company, valued at $4,871,957.76. This represents a 16.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John D. Couling sold 7,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.50, for a total value of $563,500.00. Following the completion of the sale, the senior vice president now directly owns 106,806 shares in the company, valued at approximately $8,597,883. The trade was a 6.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,429 shares of company stock valued at $12,991,048. Company insiders own 39.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DLB. Barrington Research reissued an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Wednesday, November 20th. Rosenblatt Securities boosted their target price on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 4th.

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.