Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 84.9% in the third quarter, Holdings Channel reports. The firm owned 13,356 shares of the electronics maker’s stock after selling 74,961 shares during the period. Janney Montgomery Scott LLC’s holdings in Dolby Laboratories were worth $1,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of DLB. Blue Trust Inc. grew its stake in Dolby Laboratories by 398.8% during the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 331 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Dolby Laboratories in the 2nd quarter worth approximately $37,000. GAMMA Investing LLC lifted its holdings in Dolby Laboratories by 64.6% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock worth $39,000 after buying an additional 192 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Dolby Laboratories by 192.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock worth $46,000 after buying an additional 379 shares in the last quarter. Finally, Headlands Technologies LLC increased its position in shares of Dolby Laboratories by 693.3% in the 1st quarter. Headlands Technologies LLC now owns 595 shares of the electronics maker’s stock valued at $50,000 after purchasing an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the transaction, the chief executive officer now owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. This trade represents a 25.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 39.54% of the stock is currently owned by insiders.

Dolby Laboratories Trading Down 2.0 %

Shares of DLB stock opened at $71.73 on Friday. The company has a market capitalization of $6.84 billion, a PE ratio of 32.75 and a beta of 0.98. The firm has a fifty day simple moving average of $73.62 and a 200-day simple moving average of $76.17. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $90.06.

Dolby Laboratories declared that its board has authorized a stock buyback plan on Wednesday, August 7th that allows the company to buyback $350.00 million in shares. This buyback authorization allows the electronics maker to buy up to 5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DLB shares. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, September 20th. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th.

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.