New York State Common Retirement Fund Decreases Stake in Dolby Laboratories, Inc. (NYSE:DLB)

New York State Common Retirement Fund decreased its position in Dolby Laboratories, Inc. (NYSE:DLB) by 3.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 214,284 shares of the electronics maker’s stock after selling 6,767 shares during the period. New York State Common Retirement Fund’s holdings in Dolby Laboratories were worth $16,736,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DLB. Fifth Third Bancorp increased its stake in Dolby Laboratories by 82.7% in the 4th 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 last quarter. Nisa Investment Advisors LLC raised its holdings 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 purchasing an additional 301 shares during the period. Mather Group LLC. raised its holdings 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 worth $41,000 after purchasing an additional 142 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after purchasing an additional 146 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Dolby Laboratories by 207.5% in the 4th 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. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Analysts Set New Price Targets

DLB has been the topic of a number of research reports. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, February 13th.

Dolby Laboratories Trading Down 1.1 %

Dolby Laboratories stock opened at $81.42 on Friday. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 29.94 and a beta of 0.98. The firm has a 50 day simple moving average of $80.61 and a 200 day simple moving average of $76.33.

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.62%. Dolby Laboratories’s dividend payout ratio is 48.53%.

Insider Activity at Dolby Laboratories

In other news, SVP John D. Couling sold 7,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.50, for a total transaction of $563,500.00. Following the completion of the transaction, the senior vice president now directly owns 106,806 shares in the company, valued at $8,597,883. The trade was a 6.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Andrew Sherman sold 12,338 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total transaction 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 trade represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,959 shares of company stock worth $11,897,065. Corporate insiders own 38.39% of the company’s stock.

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.