Wealth Enhancement Advisory Services LLC Increases Position in Dolby Laboratories, Inc. (NYSE:DLB)

Wealth Enhancement Advisory Services LLC raised its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 9.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,861 shares of the electronics maker’s stock after acquiring an additional 344 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Dolby Laboratories were worth $306,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DLB. Vanguard Group Inc. increased its stake in shares of Dolby Laboratories by 1.7% during the first quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock worth $544,711,000 after acquiring an additional 107,713 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Dolby Laboratories by 11.2% during the 1st quarter. Bank of New York Mellon Corp now owns 2,324,244 shares of the electronics maker’s stock worth $194,702,000 after purchasing an additional 233,958 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Dolby Laboratories by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 681,152 shares of the electronics maker’s stock valued at $58,702,000 after purchasing an additional 10,389 shares in the last quarter. Fiera Capital Corp boosted its holdings in Dolby Laboratories by 0.8% during the fourth quarter. Fiera Capital Corp now owns 582,962 shares of the electronics maker’s stock worth $50,240,000 after buying an additional 4,680 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Dolby Laboratories during the 4th quarter worth approximately $42,067,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total transaction of $181,772.46. Following the transaction, the executive vice president now directly owns 58,325 shares of the company’s stock, valued at $4,643,836.50. The sale was disclosed in a filing with the SEC, which is available at this link. 39.54% of the stock is currently owned by insiders.

Dolby Laboratories Trading Down 0.5 %

Shares of NYSE:DLB opened at $71.57 on Monday. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $90.06. The stock’s 50-day moving average price is $76.77 and its two-hundred day moving average price is $79.56. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 36.52 and a beta of 0.99.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Monday, August 19th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Monday, August 19th. Dolby Laboratories’s payout ratio is currently 61.22%.

Analyst Ratings Changes

DLB has been the subject of a number of research analyst reports. StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th. Barrington Research reissued an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Friday, August 9th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a report on Friday, June 7th.

Dolby Laboratories 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.