New York State Common Retirement Fund Sells 10,339 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

New York State Common Retirement Fund cut its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 266,848 shares of the electronics maker’s stock after selling 10,339 shares during the period. New York State Common Retirement Fund owned 0.28% of Dolby Laboratories worth $22,997,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Telemus Capital LLC raised its position in Dolby Laboratories by 11.0% in the fourth quarter. Telemus Capital LLC now owns 12,934 shares of the electronics maker’s stock worth $1,115,000 after acquiring an additional 1,284 shares during the period. Ninety One SA PTY Ltd bought a new position in Dolby Laboratories in the fourth quarter worth approximately $6,646,000. Ninety One UK Ltd raised its position in Dolby Laboratories by 29.0% in the fourth quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock worth $221,685,000 after acquiring an additional 578,239 shares during the period. Ninety One North America Inc. raised its position in Dolby Laboratories by 2.9% in the fourth quarter. Ninety One North America Inc. now owns 106,001 shares of the electronics maker’s stock worth $9,135,000 after acquiring an additional 3,024 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Dolby Laboratories by 11.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,652 shares of the electronics maker’s stock worth $1,090,000 after acquiring an additional 1,253 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Dolby Laboratories

In related news, SVP John D. Couling sold 33,560 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 39.54% of the stock is currently owned by corporate insiders.

Dolby Laboratories Price Performance

Shares of NYSE DLB opened at $79.32 on Friday. The firm has a fifty day moving average price of $81.62 and a 200-day moving average price of $83.30. The stock has a market cap of $7.58 billion, a PE ratio of 41.10 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.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.14. The firm had revenue of $315.57 million during the quarter, compared to analysts’ expectations of $310.98 million. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. On average, research analysts expect that Dolby Laboratories, Inc. will post 2.6 EPS for the current year.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $1.20 annualized dividend and a yield of 1.51%. Dolby Laboratories’s payout ratio is 62.18%.

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.