Mitsubishi UFJ Trust & Banking Corp Buys 1,009 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Mitsubishi UFJ Trust & Banking Corp raised its position in Dolby Laboratories, Inc. (NYSE:DLB) by 4.8% during the fourth quarter, according to its most recent filing with the SEC. The firm 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 filing with the SEC.

A number of other institutional investors also recently modified their holdings of DLB. Fifth Third Bancorp lifted its holdings in Dolby Laboratories by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after buying an additional 163 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 301 shares in the last quarter. Mather Group LLC. lifted its stake in shares of Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 142 shares during the period. GAMMA Investing LLC grew its stake in Dolby Laboratories by 207.5% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after purchasing an additional 525 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in Dolby Laboratories during the fourth quarter worth approximately $94,000. 58.56% of the stock is owned by institutional investors.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the transaction, the chief accounting officer now owns 29,758 shares in the company, valued at approximately $2,501,755.06. The trade was a 19.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value of $3,395,200.00. Following the completion of the sale, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,121 shares of company stock worth $5,501,324. 38.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DLB shares. Barrington Research restated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, February 13th. 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, Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, January 30th.

Dolby Laboratories Stock Performance

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

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were given 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 payout ratio is currently 48.53%.

Dolby Laboratories Company 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.