Mitsubishi UFJ Trust & Banking Corp Grows Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Mitsubishi UFJ Trust & Banking Corp boosted its position in Dolby Laboratories, Inc. (NYSE:DLB) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 21,960 shares of the electronics maker’s stock after purchasing an additional 1,009 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Dolby Laboratories were worth $1,715,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Dolby Laboratories by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker’s stock valued at $549,325,000 after acquiring an additional 68,771 shares in the last quarter. Bank of New York Mellon Corp boosted its position in 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 worth $376,948,000 after purchasing an additional 1,887,518 shares during the last quarter. State Street Corp grew its stake 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 purchasing an additional 29,289 shares during the period. Geode Capital Management LLC grew its stake in Dolby Laboratories by 4.3% in the 3rd 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 during the period. Finally, Disciplined Growth Investors Inc. MN raised its stake in shares of 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 period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on DLB shares. Rosenblatt Securities restated a “buy” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, January 30th. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Finally, Barrington Research reiterated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th.

Dolby Laboratories Stock Up 0.4 %

NYSE DLB opened at $80.64 on Wednesday. The company has a market cap of $7.70 billion, a PE ratio of 29.65 and a beta of 1.01. The firm’s 50-day simple moving average is $82.22 and its two-hundred day simple moving average is $78.45. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66.

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.53%.

Insider Activity at Dolby Laboratories

In other news, CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the business’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 directly owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their position. 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. Corporate insiders own 38.39% of the company’s stock.

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.