Resona Asset Management Co. Ltd. Makes New Investment in Dolby Laboratories, Inc. (NYSE:DLB)

Resona Asset Management Co. Ltd. purchased a new stake in Dolby Laboratories, Inc. (NYSE:DLB) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 10,676 shares of the electronics maker’s stock, valued at approximately $834,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in shares of Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock worth $28,000 after buying an additional 163 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Dolby Laboratories by 436.2% during the fourth 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 holdings in shares of Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after acquiring an additional 142 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Dolby Laboratories in the 4th quarter valued at approximately $57,000. Finally, GAMMA Investing LLC boosted its stake 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 valued at $61,000 after purchasing an additional 525 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

Dolby Laboratories stock opened at $72.61 on Friday. The business has a 50 day moving average of $80.68 and a 200-day moving average of $78.42. The company has a market capitalization of $6.93 billion, a P/E ratio of 26.70 and a beta of 0.94. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.82%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is currently 48.53%.

Insider Activity

In other news, EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction dated 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 owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the transaction, the chief marketing officer now owns 37,290 shares of the company’s stock, valued at $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,121 shares of company stock valued at $5,501,324. Insiders own 38.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, Barrington Research reissued an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, February 13th.

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.