Dolby Laboratories, Inc. (NYSE:DLB) Shares Bought by Barclays PLC

Barclays PLC lifted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 80.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,230 shares of the electronics maker’s stock after buying an additional 14,825 shares during the quarter. Barclays PLC’s holdings in Dolby Laboratories were worth $2,544,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after buying an additional 146 shares in the last quarter. Signaturefd LLC raised its stake in Dolby Laboratories by 5.1% in 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. Glenmede Trust Co. NA raised its stake in Dolby Laboratories by 3.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 5,376 shares of the electronics maker’s stock valued at $411,000 after purchasing an additional 182 shares during the last quarter. Prudential PLC grew its holdings in shares of Dolby Laboratories by 0.8% during the second quarter. Prudential PLC now owns 24,078 shares of the electronics maker’s stock worth $1,908,000 after buying an additional 193 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC grew its holdings in shares of Dolby Laboratories by 1.5% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 14,026 shares of the electronics maker’s stock worth $1,073,000 after buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barrington Research reiterated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Wednesday, November 20th. Rosenblatt Securities raised their target price on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 4th.

Dolby Laboratories Trading Up 0.9 %

Shares of DLB opened at $78.28 on Wednesday. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $87.12. The firm has a market cap of $7.47 billion, a P/E ratio of 28.89 and a beta of 0.98. The company’s 50-day moving average price is $76.39 and its 200 day moving average price is $75.64.

Dolby Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd were given a $0.33 dividend. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 1.69%. Dolby Laboratories’s payout ratio is presently 48.71%.

Insider Activity

In related news, SVP John D. Couling sold 50,000 shares of the company’s 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 in the company, valued at approximately $8,548,752.24. This represents a 31.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Gotcher sold 6,079 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 $2,968,343.28. This trade represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,429 shares of company stock valued at $12,991,048. 39.54% of the stock is currently owned by corporate insiders.

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.