2Xideas AG Has $12.61 Million Stake in Dolby Laboratories, Inc. (NYSE:DLB)

2Xideas AG lifted its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 66.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,398 shares of the electronics maker’s stock after purchasing an additional 64,554 shares during the quarter. Dolby Laboratories accounts for approximately 1.7% of 2Xideas AG’s investment portfolio, making the stock its 23rd biggest holding. 2Xideas AG owned 0.17% of Dolby Laboratories worth $12,605,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Dolby Laboratories by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker’s stock valued at $549,325,000 after purchasing an additional 68,771 shares during the period. Bank of New York Mellon Corp raised its position in Dolby Laboratories by 64.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock valued at $376,948,000 after purchasing an additional 1,887,518 shares during the last quarter. State Street Corp increased its position in Dolby Laboratories by 1.5% in the 3rd quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock valued at $147,824,000 after acquiring an additional 29,289 shares during the period. Geode Capital Management LLC grew its position in shares of Dolby Laboratories by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after buying an additional 63,293 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its holdings in Dolby Laboratories by 4.5% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after purchasing an additional 63,589 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Stock Down 6.6 %

NYSE DLB opened at $72.54 on Friday. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66. The stock’s 50-day simple moving average is $82.03 and its two-hundred day simple moving average is $78.52. The company has a market capitalization of $6.92 billion, a price-to-earnings ratio of 26.67 and a beta of 1.01.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders 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 annualized dividend and a yield of 1.82%. Dolby Laboratories’s payout ratio is 48.53%.

Analyst Ratings Changes

Several equities research analysts have weighed in on DLB shares. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, Barrington Research reissued an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, February 13th.

Insider Buying and Selling

In other news, EVP Mark Andrew Sherman sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value of $3,395,200.00. Following the sale, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at $5,296,257.36. The trade was a 39.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Todd Pendleton sold 18,121 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,121 shares of company stock worth $5,501,324 in the last ninety days. 38.39% of the stock is owned by insiders.

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.