Dolby Laboratories, Inc. (NYSE:DLB) Shares Bought by Leuthold Group LLC

Leuthold Group LLC grew its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 3.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 45,770 shares of the electronics maker’s stock after buying an additional 1,524 shares during the quarter. Leuthold Group LLC’s holdings in Dolby Laboratories were worth $3,944,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky acquired a new stake in Dolby Laboratories in the 3rd quarter valued at about $1,610,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Dolby Laboratories during the fourth quarter worth approximately $2,229,000. Envestnet Asset Management Inc. boosted its stake in Dolby Laboratories by 64.0% during the third quarter. Envestnet Asset Management Inc. now owns 466,282 shares of the electronics maker’s stock worth $36,958,000 after buying an additional 181,904 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Dolby Laboratories by 115.5% during the fourth quarter. Pacer Advisors Inc. now owns 16,418 shares of the electronics maker’s stock worth $1,415,000 after buying an additional 8,798 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in Dolby Laboratories by 331.3% in the 3rd quarter. Amalgamated Bank now owns 41,227 shares of the electronics maker’s stock valued at $3,268,000 after buying an additional 31,668 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Stock Up 1.1 %

NYSE:DLB traded up $0.89 on Tuesday, reaching $82.89. The company’s stock had a trading volume of 156,394 shares, compared to its average volume of 369,500. Dolby Laboratories, Inc. has a 12-month low of $75.87 and a 12-month high of $91.01. The stock has a 50 day moving average price of $81.67 and a 200 day moving average price of $83.26. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 41.83 and a beta of 0.98.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.45%. Dolby Laboratories’s payout ratio is currently 61.22%.

Insiders Place Their Bets

In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the transaction, the senior vice president now directly owns 108,519 shares in the company, valued at $8,769,420.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 39.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DLB has been the topic of several recent research reports. StockNews.com cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Friday. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a research note on Monday, April 29th.

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.