Advisors Asset Management Inc. Has $272,000 Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Advisors Asset Management Inc. increased its position in Dolby Laboratories, Inc. (NYSE:DLB) by 26.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,560 shares of the electronics maker’s stock after purchasing an additional 753 shares during the quarter. Advisors Asset Management Inc.’s holdings in Dolby Laboratories were worth $272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of Dolby Laboratories by 398.8% in the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after buying an additional 331 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Dolby Laboratories in the second quarter valued at about $37,000. GAMMA Investing LLC raised 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 purchasing an additional 192 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Dolby Laboratories by 192.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock worth $46,000 after purchasing an additional 379 shares during the period. Finally, Prospera Private Wealth LLC acquired a new stake in Dolby Laboratories during the third quarter valued at approximately $93,000. 58.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DLB has been the subject of a number of recent research reports. Rosenblatt Securities increased their target price on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Wednesday, November 20th.

Insider Activity

In other news, SVP John D. Couling sold 50,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the sale, the senior vice president now directly owns 106,806 shares of the company’s stock, valued at $8,548,752.24. This represents a 31.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin J. Yeaman sold 28,512 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the completion of the transaction, the chief executive officer now owns 83,721 shares of the company’s stock, valued at $6,205,400.52. This trade represents a 25.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,091 shares of company stock worth $12,027,697. 39.54% of the stock is owned by corporate insiders.

Dolby Laboratories Price Performance

NYSE DLB opened at $78.20 on Friday. The stock’s 50 day simple moving average is $74.78 and its 200 day simple moving average is $75.96. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $90.06. The firm has a market cap of $7.46 billion, a PE ratio of 28.86 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.69%. Dolby Laboratories’s dividend payout ratio (DPR) is 44.28%.

Dolby Laboratories announced that its board has approved a stock buyback plan on Wednesday, August 7th that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the electronics maker to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

About Dolby Laboratories

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.