First Hawaiian Bank Sells 1,278 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

First Hawaiian Bank trimmed its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,564 shares of the electronics maker’s stock after selling 1,278 shares during the quarter. First Hawaiian Bank’s holdings in Dolby Laboratories were worth $669,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in Dolby Laboratories during the second quarter worth $37,000. GAMMA Investing LLC boosted its position in Dolby Laboratories by 207.5% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after purchasing an additional 525 shares during the period. First Horizon Advisors Inc. boosted its position in Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after purchasing an additional 146 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Dolby Laboratories during the third quarter worth $93,000. Finally, Blue Trust Inc. lifted its holdings in shares of Dolby Laboratories by 234.3% during the third quarter. Blue Trust Inc. now owns 1,384 shares of the electronics maker’s stock worth $110,000 after buying an additional 970 shares in the last quarter. 58.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barrington Research reissued an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a report on Wednesday, November 20th. StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Finally, 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.

Dolby Laboratories Stock Down 0.9 %

Dolby Laboratories stock opened at $76.43 on Friday. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $86.37. The business’s 50-day moving average price is $77.47 and its two-hundred day moving average price is $75.60. The stock has a market cap of $7.29 billion, a PE ratio of 28.20 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Tuesday, December 3rd. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s payout ratio is currently 48.71%.

Insider Buying and Selling at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 12,338 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total transaction of $963,351.04. Following the sale, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $4,871,957.76. The trade was a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin J. Yeaman sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.54, for a total value of $4,027,000.00. Following the sale, the chief executive officer now owns 83,721 shares in the company, valued at approximately $6,742,889.34. This trade represents a 37.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,429 shares of company stock worth $12,991,048 over the last 90 days. Insiders own 38.39% of the company’s stock.

About Dolby Laboratories

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.