Empowered Funds LLC Has $576,000 Position in Dolby Laboratories, Inc. (NYSE:DLB)

Empowered Funds LLC boosted its position in Dolby Laboratories, Inc. (NYSE:DLB) by 21.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,528 shares of the electronics maker’s stock after purchasing an additional 1,348 shares during the quarter. Empowered Funds LLC’s holdings in Dolby Laboratories were worth $576,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DLB. First Affirmative Financial Network boosted its position in shares of Dolby Laboratories by 4.9% in the second quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker’s stock valued at $219,000 after acquiring an additional 129 shares during the period. LRI Investments LLC raised its stake in Dolby Laboratories by 6.0% in the 2nd quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock worth $182,000 after purchasing an additional 130 shares in the last quarter. Signaturefd LLC boosted its holdings in Dolby Laboratories by 5.1% in the 2nd quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock valued at $251,000 after purchasing an additional 153 shares during the period. Mitchell & Pahl Private Wealth LLC grew its position in shares of Dolby Laboratories by 1.3% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock worth $1,095,000 after purchasing an additional 174 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 192 shares in the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Dolby Laboratories news, Director Peter C. Gotcher sold 6,079 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total transaction of $479,997.84. Following the sale, the director now owns 37,593 shares of the company’s stock, valued at approximately $2,968,343.28. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin J. Yeaman sold 28,512 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the completion of the transaction, the chief executive officer now owns 83,721 shares of the company’s stock, valued at $6,205,400.52. The trade was a 25.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 39.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DLB shares. Rosenblatt Securities boosted their price target on Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Monday, November 18th. Finally, Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Wednesday, November 20th.

Dolby Laboratories Trading Up 0.4 %

Shares of NYSE:DLB opened at $80.55 on Monday. The firm has a 50 day moving average of $74.33 and a 200-day moving average of $75.98. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $90.06. The stock has a market capitalization of $7.68 billion, a PE ratio of 29.72 and a beta of 0.98.

Dolby Laboratories declared that its board has approved a stock repurchase plan on Wednesday, August 7th that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the electronics maker to repurchase up to 5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Dolby Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Tuesday, December 3rd. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s dividend payout ratio (DPR) is currently 44.28%.

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.