Mutual of America Capital Management LLC Sells 1,911 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Mutual of America Capital Management LLC cut its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 36,726 shares of the electronics maker’s stock after selling 1,911 shares during the period. Mutual of America Capital Management LLC’s holdings in Dolby Laboratories were worth $3,165,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in DLB. Morgan Stanley boosted its holdings in shares of Dolby Laboratories by 577.7% in the fourth quarter. Morgan Stanley now owns 4,365,832 shares of the electronics maker’s stock worth $307,966,000 after buying an additional 3,721,613 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Dolby Laboratories by 320.2% in the first quarter. First Trust Advisors LP now owns 1,081,747 shares of the electronics maker’s stock worth $84,614,000 after buying an additional 824,296 shares during the last quarter. Norges Bank purchased a new position in shares of Dolby Laboratories in the fourth quarter worth approximately $38,977,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Dolby Laboratories by 4.8% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock worth $415,808,000 after buying an additional 239,578 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Dolby Laboratories in the third quarter worth approximately $18,702,000. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insider Transactions at Dolby Laboratories

In other news, SVP John D. Couling sold 33,560 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $80.81, for a total value of $2,711,983.60. Following the transaction, the senior vice president now owns 108,519 shares of the company’s stock, valued at $8,769,420.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 39.54% of the company’s stock.

Dolby Laboratories Price Performance

Shares of NYSE:DLB opened at $77.98 on Thursday. Dolby Laboratories, Inc. has a 1-year low of $75.87 and a 1-year high of $91.01. The company has a market capitalization of $7.45 billion, a P/E ratio of 40.40 and a beta of 0.97. The firm’s 50 day simple moving average is $81.67 and its two-hundred day simple moving average is $83.37.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, topping the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. The firm had revenue of $315.57 million for the quarter, compared to the consensus estimate of $310.98 million. On average, sell-side analysts anticipate that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Tuesday, February 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Monday, February 12th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 62.18%.

Analysts Set New Price Targets

DLB has been the topic of a number of research reports. StockNews.com raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $98.00 price target on shares of Dolby Laboratories in a report on Wednesday, January 31st.

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.