Proficio Capital Partners LLC Takes $1.04 Million Position in Dolby Laboratories, Inc. (NYSE:DLB)

Proficio Capital Partners LLC acquired a new position in Dolby Laboratories, Inc. (NYSE:DLB) in the 4th quarter, HoldingsChannel reports. The firm acquired 13,355 shares of the electronics maker’s stock, valued at approximately $1,043,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Dolby Laboratories by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after purchasing an additional 63,293 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of Dolby Laboratories by 5.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock worth $21,771,000 after buying an additional 15,546 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Dolby Laboratories by 10,441,900.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after purchasing an additional 104,419 shares during the last quarter. Barclays PLC boosted its stake in shares of Dolby Laboratories by 80.5% in the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock worth $2,544,000 after buying an additional 14,825 shares during the last quarter. Finally, Algert Global LLC raised its holdings in Dolby Laboratories by 52.0% in the 3rd quarter. Algert Global LLC now owns 48,822 shares of the electronics maker’s stock worth $3,736,000 after purchasing an additional 16,700 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. 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. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, February 13th. Finally, StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st.

Dolby Laboratories Stock Down 1.1 %

Shares of DLB stock opened at $80.94 on Friday. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66. The stock has a market capitalization of $7.72 billion, a PE ratio of 29.76 and a beta of 1.01. The firm has a 50 day moving average of $82.16 and a two-hundred day moving average of $77.79.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.63%. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Insider Buying and Selling

In related news, EVP Mark Andrew Sherman sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the sale, the executive vice president now owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. The trade was a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Todd Pendleton sold 18,121 shares of Dolby Laboratories stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the transaction, the chief marketing officer now owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,121 shares of company stock worth $5,501,324 in the last ninety days. 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.