Janney Montgomery Scott LLC Decreases Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Janney Montgomery Scott LLC decreased its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 23.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,188 shares of the electronics maker’s stock after selling 3,168 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Dolby Laboratories were worth $796,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Dolby Laboratories during the 4th quarter valued at about $3,543,000. Nisa Investment Advisors LLC boosted its holdings in shares of Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 301 shares during the last quarter. Mitchell & Pahl Private Wealth LLC grew its position in shares of Dolby Laboratories by 5.3% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 14,771 shares of the electronics maker’s stock valued at $1,154,000 after purchasing an additional 745 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Dolby Laboratories by 12.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 16,239 shares of the electronics maker’s stock valued at $1,268,000 after purchasing an additional 1,797 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Dolby Laboratories by 5.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock worth $201,000 after buying an additional 136 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 50,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the transaction, the senior vice president now directly owns 106,806 shares in the company, valued at $8,548,752.24. This represents a 31.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ryan Nicholson sold 7,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total value of $588,490.00. Following the transaction, the chief accounting officer now owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. This represents a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 182,917 shares of company stock worth $14,861,429. 38.39% of the stock is currently owned by company insiders.

Dolby Laboratories Stock Performance

DLB opened at $84.50 on Friday. The stock has a market capitalization of $8.06 billion, a PE ratio of 31.07 and a beta of 0.98. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66. The business’s 50 day moving average price is $79.76 and its 200 day moving average price is $75.87.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.53%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barrington Research restated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Monday, January 27th. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 30th.

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.