Ninety One UK Ltd Cuts Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Ninety One UK Ltd lessened its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 76.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 509,927 shares of the electronics maker’s stock after selling 1,689,815 shares during the quarter. Ninety One UK Ltd’s holdings in Dolby Laboratories were worth $39,825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DLB. State Street Corp increased its holdings in Dolby Laboratories by 1.5% in the 3rd quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock valued at $147,824,000 after acquiring an additional 29,289 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Dolby Laboratories by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after purchasing an additional 63,293 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of Dolby Laboratories by 4.5% in the third 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. Boston Trust Walden Corp lifted its position in shares of Dolby Laboratories by 0.9% in the fourth quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker’s stock worth $84,715,000 after buying an additional 9,624 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Dolby Laboratories by 5.8% during the third quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock valued at $21,771,000 after buying an additional 15,546 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

NYSE:DLB opened at $84.52 on Wednesday. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 31.07 and a beta of 0.98. The business has a 50 day simple moving average of $79.51 and a 200-day simple moving average of $75.75. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.56%. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DLB. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Finally, Barrington Research reissued an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Monday, January 27th.

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 12,338 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total value of $963,351.04. Following the transaction, the executive vice president now owns 62,397 shares of the company’s stock, valued at $4,871,957.76. This represents a 16.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP John D. Couling sold 7,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.50, for a total value of $563,500.00. Following the completion of the sale, the senior vice president now owns 106,806 shares in the company, valued at approximately $8,597,883. The trade was a 6.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 175,917 shares of company stock valued at $14,272,939 over the last three months. 38.39% of the stock is owned by company insiders.

Dolby Laboratories 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.