SG Americas Securities LLC Buys Shares of 45,361 Dolby Laboratories, Inc. (NYSE:DLB)

SG Americas Securities LLC purchased a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) in the 4th quarter, Holdings Channel reports. The fund purchased 45,361 shares of the electronics maker’s stock, valued at approximately $3,543,000.

Several other institutional investors have also recently made changes to their positions in DLB. Nisa Investment Advisors LLC grew its position in Dolby Laboratories by 436.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after buying an additional 301 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Dolby Laboratories during the 2nd quarter worth $37,000. First Horizon Advisors Inc. grew its position in shares of Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after acquiring an additional 146 shares during the period. GAMMA Investing LLC increased its stake in shares of Dolby Laboratories by 207.5% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after purchasing an additional 525 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Dolby Laboratories in the 3rd quarter worth $93,000. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of DLB stock opened at $79.67 on Friday. The stock has a fifty day simple moving average of $78.79 and a two-hundred day simple moving average of $75.63. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $85.84. The firm has a market capitalization of $7.60 billion, a PE ratio of 29.40 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. Investors of record on Tuesday, December 3rd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.66%. The ex-dividend date was 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 48.71%.

Insider Buying and Selling

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin J. Yeaman sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.54, for a total transaction of $4,027,000.00. Following the completion of the sale, the chief executive officer now owns 83,721 shares in the company, valued at approximately $6,742,889.34. The trade was a 37.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,917 shares of company stock valued at $10,877,739. Corporate insiders own 38.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on DLB shares. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Wednesday, November 20th.

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.