US Bancorp DE Grows Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

US Bancorp DE raised its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 23.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,218 shares of the electronics maker’s stock after buying an additional 235 shares during the period. US Bancorp DE’s holdings in Dolby Laboratories were worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC purchased a new stake in Dolby Laboratories in the 4th quarter valued at about $1,043,000. Amalgamated Bank boosted its position in Dolby Laboratories by 1.4% in the 4th quarter. Amalgamated Bank now owns 28,355 shares of the electronics maker’s stock valued at $2,215,000 after buying an additional 403 shares during the period. Bank of New York Mellon Corp boosted its position in Dolby Laboratories by 64.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock valued at $376,948,000 after buying an additional 1,887,518 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Dolby Laboratories in the 4th quarter valued at about $246,000. Finally, Cardinal Capital Management boosted its position in Dolby Laboratories by 3.2% in the 4th quarter. Cardinal Capital Management now owns 41,453 shares of the electronics maker’s stock valued at $3,237,000 after buying an additional 1,273 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Up 2.4 %

NYSE DLB opened at $81.92 on Monday. The firm has a market cap of $7.82 billion, a PE ratio of 30.12 and a beta of 1.01. The company has a 50 day moving average price of $81.69 and a 200 day moving average price of $77.51. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.61%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.53%.

Insider Buying and Selling

In other Dolby Laboratories news, CAO Ryan Nicholson sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the transaction, the chief accounting officer now owns 29,758 shares in the company, valued at approximately $2,501,755.06. This represents a 19.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the transaction, the executive vice president now owns 62,397 shares in the company, valued at $5,296,257.36. The trade was a 39.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,459 shares of company stock worth $6,464,675 in the last 90 days. 38.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DLB has been the subject of several research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, January 30th. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, February 13th.

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.