First Trust Direct Indexing L.P. Increases Stake in Dolby Laboratories, Inc. (NYSE:DLB)

First Trust Direct Indexing L.P. raised its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 36.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,209 shares of the electronics maker’s stock after buying an additional 1,121 shares during the period. First Trust Direct Indexing L.P.’s holdings in Dolby Laboratories were worth $363,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DLB. Vanguard Group Inc. boosted its holdings in Dolby Laboratories by 3.3% in the third quarter. Vanguard Group Inc. now owns 6,389,084 shares of the electronics maker’s stock valued at $506,399,000 after purchasing an additional 205,319 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Dolby Laboratories by 4.8% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock worth $415,808,000 after acquiring an additional 239,578 shares in the last quarter. Morgan Stanley increased its position in shares of Dolby Laboratories by 11.9% in the 3rd quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock valued at $388,556,000 after purchasing an additional 523,250 shares during the last quarter. Ninety One UK Ltd raised its holdings in shares of Dolby Laboratories by 29.0% in the 4th quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock valued at $221,685,000 after purchasing an additional 578,239 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Dolby Laboratories by 12.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,884,088 shares of the electronics maker’s stock worth $149,333,000 after purchasing an additional 209,369 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

NYSE DLB opened at $81.99 on Tuesday. The firm’s fifty day moving average price is $81.67 and its 200 day moving average price is $83.26. Dolby Laboratories, Inc. has a 12 month low of $75.87 and a 12 month high of $91.01. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 41.83 and a beta of 0.98.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, May 13th. Dolby Laboratories’s payout ratio is 61.22%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DLB. StockNews.com cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Friday. Rosenblatt Securities restated a “buy” rating and set a $98.00 target price on shares of Dolby Laboratories in a research note on Monday, April 29th.

Insider Transactions at Dolby Laboratories

In related news, SVP John D. Couling sold 33,560 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $80.81, for a total value of $2,711,983.60. Following the completion of the sale, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at approximately $8,769,420.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 39.54% 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.