Teacher Retirement System of Texas Acquires 54,177 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Teacher Retirement System of Texas lifted its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 62.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,439 shares of the electronics maker’s stock after buying an additional 54,177 shares during the quarter. Teacher Retirement System of Texas’ holdings in Dolby Laboratories were worth $11,046,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in DLB. Bank of New York Mellon Corp raised its holdings in shares of Dolby Laboratories by 64.2% in the fourth 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 last quarter. Clifford Capital Partners LLC raised its holdings in Dolby Laboratories by 3,114.7% during the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after purchasing an additional 262,162 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Dolby Laboratories by 10,441,900.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock worth $8,123,000 after purchasing an additional 104,419 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Dolby Laboratories by 496.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock worth $7,823,000 after purchasing an additional 85,093 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its holdings in Dolby Laboratories by 4.5% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after purchasing an additional 63,589 shares during the last quarter. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Trading Down 1.1 %

Dolby Laboratories stock opened at $80.94 on Friday. The firm has a market capitalization of $7.72 billion, a P/E ratio of 29.76 and a beta of 1.01. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The business has a 50-day moving average of $82.16 and a 200-day moving average of $77.79.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.63%. Dolby Laboratories’s payout ratio is currently 48.53%.

Insider Transactions at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the completion of the transaction, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $5,296,257.36. The trade was a 39.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ryan Nicholson sold 7,000 shares of the business’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 value of $588,490.00. Following the completion of the transaction, the chief accounting officer now owns 29,758 shares of the company’s stock, valued at $2,501,755.06. This represents a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,121 shares of company stock worth $5,501,324. 38.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on DLB. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, Barrington Research reissued an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, February 13th.

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.