Allspring Global Investments Holdings LLC Sells 140,514 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Allspring Global Investments Holdings LLC trimmed its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 90.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,519 shares of the electronics maker’s stock after selling 140,514 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Dolby Laboratories were worth $1,251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Dolby Laboratories in the fourth quarter worth $7,256,000. Bleakley Financial Group LLC lifted its stake in shares of Dolby Laboratories by 1.4% in the fourth quarter. Bleakley Financial Group LLC now owns 9,444 shares of the electronics maker’s stock worth $814,000 after buying an additional 134 shares during the last quarter. Cambiar Investors LLC lifted its stake in shares of Dolby Laboratories by 1.5% in the fourth quarter. Cambiar Investors LLC now owns 135,505 shares of the electronics maker’s stock worth $11,678,000 after buying an additional 1,959 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in shares of Dolby Laboratories in the fourth quarter worth $131,000. Finally, Boston Trust Walden Corp lifted its stake in shares of Dolby Laboratories by 1.0% in the fourth quarter. Boston Trust Walden Corp now owns 366,796 shares of the electronics maker’s stock worth $31,610,000 after buying an additional 3,549 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Dolby Laboratories

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

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock opened at $79.22 on Wednesday. Dolby Laboratories, Inc. has a fifty-two week low of $75.87 and a fifty-two week high of $91.01. The firm has a fifty day moving average price of $81.57 and a two-hundred day moving average price of $83.36. The company has a market cap of $7.57 billion, a PE ratio of 41.05 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $310.98 million. Analysts expect that Dolby Laboratories, Inc. will post 2.63 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Tuesday, February 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Monday, February 12th. Dolby Laboratories’s payout ratio is 62.18%.

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.