Sumitomo Mitsui Trust Holdings Inc. Raises Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,048 shares of the electronics maker’s stock after acquiring an additional 308 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Dolby Laboratories were worth $521,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DLB. Morgan Stanley boosted its stake in Dolby Laboratories by 11.9% in the third quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock valued at $388,556,000 after acquiring an additional 523,250 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Dolby Laboratories by 4.8% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock valued at $415,808,000 after acquiring an additional 239,578 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Dolby Laboratories in the third quarter valued at approximately $18,702,000. Principal Financial Group Inc. boosted its stake in Dolby Laboratories by 4,883.3% in the third quarter. Principal Financial Group Inc. now owns 219,665 shares of the electronics maker’s stock valued at $17,411,000 after acquiring an additional 215,257 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Dolby Laboratories by 12.5% in the third quarter. Bank of New York Mellon Corp now owns 1,884,088 shares of the electronics maker’s stock valued at $149,333,000 after acquiring an additional 209,369 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Dolby Laboratories

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 shares were sold at an average price of $80.81, for a total value of $2,711,983.60. Following the sale, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at $8,769,420.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 39.54% of the stock is owned by corporate insiders.

Dolby Laboratories Price Performance

Shares of DLB opened at $79.91 on Friday. The firm has a market capitalization of $7.64 billion, a PE ratio of 41.40 and a beta of 0.97. Dolby Laboratories, Inc. has a 1-year low of $75.87 and a 1-year high of $91.01. The company’s fifty day moving average price is $81.58 and its 200-day moving average price is $83.33.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, beating the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. The company had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.98 million. As a group, research analysts anticipate that Dolby Laboratories, Inc. will post 2.6 EPS for the current fiscal year.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Monday, February 12th. Dolby Laboratories’s payout ratio is 62.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Rosenblatt Securities reissued a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a report on Wednesday, January 31st.

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.