Diversified Trust Co Acquires New Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Diversified Trust Co bought a new position in Dolby Laboratories, Inc. (NYSE:DLB) during the 4th quarter, Holdings Channel reports. The institutional investor bought 4,604 shares of the electronics maker’s stock, valued at approximately $360,000.

Several other large investors have also recently bought and sold shares of DLB. GAMMA Investing LLC grew its holdings in shares of Dolby Laboratories by 207.5% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after purchasing an additional 525 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in Dolby Laboratories by 5.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock worth $21,771,000 after buying an additional 15,546 shares in the last quarter. Franklin Resources Inc. grew its stake in Dolby Laboratories by 22.0% in the 3rd quarter. Franklin Resources Inc. now owns 47,247 shares of the electronics maker’s stock worth $3,513,000 after buying an additional 8,509 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of Dolby Laboratories by 10.8% in the 3rd quarter. Synovus Financial Corp now owns 32,062 shares of the electronics maker’s stock worth $2,454,000 after buying an additional 3,113 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Dolby Laboratories by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after buying an additional 63,293 shares in the last quarter. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Stock Down 0.9 %

Dolby Laboratories stock opened at $76.43 on Friday. The firm has a fifty day simple moving average of $77.52 and a two-hundred day simple moving average of $75.56. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $86.37. The company has a market capitalization of $7.29 billion, a PE ratio of 28.20 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.73%. Dolby Laboratories’s dividend payout ratio is currently 48.71%.

Insiders Place Their Bets

In other news, SVP John D. Couling sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.50, for a total transaction of $563,500.00. Following the transaction, the senior vice president now directly owns 106,806 shares of the company’s stock, valued at approximately $8,597,883. The trade was a 6.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin J. Yeaman sold 28,512 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total value of $2,113,309.44. Following the completion of the sale, the chief executive officer now directly owns 83,721 shares of the company’s stock, valued at $6,205,400.52. The trade was a 25.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,429 shares of company stock valued at $12,991,048 in the last ninety days. Company insiders own 38.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.