California Public Employees Retirement System boosted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) by 78.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,711 shares of the electronics maker’s stock after buying an additional 101,508 shares during the period. California Public Employees Retirement System owned approximately 0.23% of Dolby Laboratories worth $16,510,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the business. First Horizon Advisors Inc. purchased a new stake in shares of Dolby Laboratories in the second quarter valued at about $29,000. Riggs Asset Managment Co. Inc. purchased a new stake in shares of Dolby Laboratories in the first quarter valued at about $39,000. Zions Bancorporation N.A. purchased a new stake in shares of Dolby Laboratories in the first quarter valued at about $42,000. Eagle Bay Advisors LLC raised its holdings in shares of Dolby Laboratories by 59.5% in the first quarter. Eagle Bay Advisors LLC now owns 654 shares of the electronics maker’s stock valued at $51,000 after purchasing an additional 244 shares during the last quarter. Finally, Venture Visionary Partners LLC purchased a new stake in shares of Dolby Laboratories in the second quarter valued at about $57,000. Institutional investors and hedge funds own 59.13% of the company’s stock.
Dolby Laboratories Stock Performance
DLB opened at $69.07 on Friday. The firm has a market cap of $6.97 billion, a P/E ratio of 38.37, a PEG ratio of 1.59 and a beta of 0.97. The firm has a 50-day moving average of $67.83 and a 200 day moving average of $72.52. Dolby Laboratories, Inc. has a fifty-two week low of $61.55 and a fifty-two week high of $96.85.
Dolby Laboratories Increases Dividend
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Barrington Research downgraded shares of Dolby Laboratories from an “outperform” rating to a “market perform” rating in a report on Friday. StockNews.com assumed coverage on shares of Dolby Laboratories in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Tigress Financial lowered their target price on shares of Dolby Laboratories from $128.00 to $116.00 and set a “buy” rating for the company in a report on Friday, October 14th. Finally, Rosenblatt Securities reduced their price target on shares of Dolby Laboratories from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, November 7th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Dolby Laboratories has an average rating of “Moderate Buy” and a consensus target price of $97.00.
Insiders Place Their Bets
In other Dolby Laboratories news, SVP John D. Couling sold 50,000 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $66.02, for a total transaction of $3,301,000.00. Following the completion of the transaction, the senior vice president now owns 79,235 shares in the company, valued at $5,231,094.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 37.06% of the company’s stock.
About Dolby Laboratories
Dolby Laboratories, Inc engages in the provision of audio and imaging technologies. It transforms entertainment and communications for content playback in movies, television, music, and gaming. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.
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