Disciplined Growth Investors Inc. MN Boosts Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Disciplined Growth Investors Inc. MN increased its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 4.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,466,212 shares of the electronics maker’s stock after acquiring an additional 63,589 shares during the quarter. Dolby Laboratories accounts for 2.1% of Disciplined Growth Investors Inc. MN’s portfolio, making the stock its 20th largest position. Disciplined Growth Investors Inc. MN’s holdings in Dolby Laboratories were worth $112,209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in DLB. Blue Trust Inc. lifted its holdings in Dolby Laboratories by 398.8% during the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 331 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Dolby Laboratories during the second quarter valued at approximately $37,000. Whittier Trust Co. of Nevada Inc. lifted its holdings 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 valued at $46,000 after purchasing an additional 379 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 146 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in Dolby Laboratories during the third quarter valued at approximately $93,000. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Stock Performance

DLB stock opened at $79.38 on Tuesday. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $90.06. The company’s fifty day moving average price is $75.56 and its 200-day moving average price is $75.74. The company has a market capitalization of $7.58 billion, a PE ratio of 29.29 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s payout ratio is 48.71%.

Analyst Ratings Changes

Several equities analysts have weighed in on DLB shares. Rosenblatt Securities lifted their price target on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Wednesday, November 20th. Finally, StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, Director Peter C. Gotcher sold 6,079 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were 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 in the company, valued at $2,968,343.28. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kevin J. Yeaman sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.54, for a total transaction of $4,027,000.00. Following the transaction, the chief executive officer now owns 83,721 shares in the company, valued at $6,742,889.34. This trade represents a 37.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,091 shares of company stock valued at $12,027,697. 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.