Boston Trust Walden Corp Boosts Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Boston Trust Walden Corp boosted its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,084,700 shares of the electronics maker’s stock after acquiring an additional 9,624 shares during the period. Boston Trust Walden Corp’s holdings in Dolby Laboratories were worth $84,715,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its holdings in Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 163 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Dolby Laboratories by 436.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 301 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock valued at $61,000 after purchasing an additional 525 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after buying an additional 146 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Dolby Laboratories during the 3rd quarter valued at approximately $93,000. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DLB. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday. Finally, Barrington Research restated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Monday, January 27th.

Dolby Laboratories Price Performance

NYSE DLB opened at $83.63 on Monday. The company’s 50 day simple moving average is $79.35 and its two-hundred day simple moving average is $75.69. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The stock has a market capitalization of $7.98 billion, a PE ratio of 30.75 and a beta of 0.98.

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be given a $0.33 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.58%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.53%.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $78.96, for a total transaction of $479,997.84. Following the completion of the sale, the director now owns 37,593 shares of the company’s stock, valued at $2,968,343.28. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John D. Couling sold 50,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $80.04, for a total value of $4,002,000.00. Following the completion of the transaction, the senior vice president now owns 106,806 shares of the company’s stock, valued at $8,548,752.24. The trade was a 31.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,917 shares of company stock valued at $10,877,739. Company insiders own 38.39% of the company’s stock.

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.