New York State Common Retirement Fund Sells 6,767 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

New York State Common Retirement Fund decreased its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 214,284 shares of the electronics maker’s stock after selling 6,767 shares during the quarter. New York State Common Retirement Fund owned approximately 0.22% of Dolby Laboratories worth $16,736,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC boosted its position in Dolby Laboratories by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after acquiring an additional 63,293 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in Dolby Laboratories by 5.8% during the third quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock valued at $21,771,000 after acquiring an additional 15,546 shares during the last quarter. Barclays PLC boosted its position in Dolby Laboratories by 80.5% during the third quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock valued at $2,544,000 after acquiring an additional 14,825 shares during the last quarter. Boston Trust Walden Corp boosted its position in Dolby Laboratories by 185.3% during the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after acquiring an additional 698,283 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Dolby Laboratories by 10,441,900.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after acquiring an additional 104,419 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

DLB stock opened at $81.42 on Friday. The stock has a market capitalization of $7.77 billion, a PE ratio of 29.94 and a beta of 0.98. The company’s 50-day moving average is $80.61 and its 200-day moving average is $76.33. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66.

Dolby Laboratories Announces Dividend

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

Insider Buying and Selling

In related news, CEO Kevin J. Yeaman sold 50,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.54, for a total value of $4,027,000.00. Following the sale, the chief executive officer now owns 83,721 shares in the company, valued at $6,742,889.34. This represents a 37.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Todd Pendleton sold 18,121 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the sale, the chief marketing officer now owns 37,290 shares in the company, valued at $3,123,037.50. This represents a 32.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,959 shares of company stock worth $11,897,065 in the last quarter. Insiders own 38.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DLB. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, February 13th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 30th. Finally, StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st.

About Dolby Laboratories

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.