1,205 Shares in Dolby Laboratories, Inc. (NYSE:DLB) Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new position in Dolby Laboratories, Inc. (NYSE:DLB) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,205 shares of the electronics maker’s stock, valued at approximately $94,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DLB. Victory Capital Management Inc. lifted its position in Dolby Laboratories by 18.5% in the third quarter. Victory Capital Management Inc. now owns 14,665 shares of the electronics maker’s stock worth $1,122,000 after purchasing an additional 2,288 shares during the period. Empowered Funds LLC lifted its position in Dolby Laboratories by 21.8% in the third quarter. Empowered Funds LLC now owns 7,528 shares of the electronics maker’s stock worth $576,000 after purchasing an additional 1,348 shares during the period. Thrivent Financial for Lutherans lifted its position in Dolby Laboratories by 496.7% in the third quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock worth $7,823,000 after purchasing an additional 85,093 shares during the period. Prospera Private Wealth LLC bought a new position in Dolby Laboratories in the third quarter worth $93,000. Finally, Advisors Asset Management Inc. raised its stake in Dolby Laboratories by 26.8% during the third quarter. Advisors Asset Management Inc. now owns 3,560 shares of the electronics maker’s stock worth $272,000 after acquiring an additional 753 shares in the last quarter. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Price Performance

Dolby Laboratories stock opened at $82.15 on Tuesday. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The firm has a market capitalization of $7.84 billion, a P/E ratio of 30.20 and a beta of 1.01. The stock has a fifty day moving average price of $81.77 and a two-hundred day moving average price of $77.58.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were paid a $0.33 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.61%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.53%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DLB shares. Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. Finally, StockNews.com lowered Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st.

Insider Activity

In other news, EVP Mark Andrew Sherman sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value of $3,395,200.00. Following the completion of the sale, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the sale, the chief marketing officer now owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,121 shares of company stock worth $5,501,324. 38.39% of the stock is owned by corporate insiders.

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.