Thrivent Financial for Lutherans Has $4.79 Million Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Thrivent Financial for Lutherans trimmed its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 39.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,389 shares of the electronics maker’s stock after selling 40,834 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Dolby Laboratories were worth $4,794,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Twin Tree Management LP acquired a new stake in Dolby Laboratories during the 4th quarter valued at $662,000. Natixis Advisors LLC increased its stake in shares of Dolby Laboratories by 2.0% in the fourth quarter. Natixis Advisors LLC now owns 21,228 shares of the electronics maker’s stock valued at $1,658,000 after buying an additional 420 shares in the last quarter. Picton Mahoney Asset Management raised its holdings in shares of Dolby Laboratories by 46.7% in the fourth quarter. Picton Mahoney Asset Management now owns 6,941 shares of the electronics maker’s stock valued at $541,000 after buying an additional 2,209 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Dolby Laboratories during the 4th quarter worth about $645,000. Finally, Wealthfront Advisers LLC bought a new stake in Dolby Laboratories during the 4th quarter worth about $94,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, February 13th. StockNews.com downgraded Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, January 30th.

Dolby Laboratories Price Performance

Shares of NYSE:DLB opened at $81.65 on Tuesday. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 30.02 and a beta of 1.01. The company has a 50 day moving average of $82.22 and a 200-day moving average of $77.98. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66.

Dolby Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories’s payout ratio is 48.53%.

Insider Activity

In other news, CMO Todd Pendleton sold 18,121 shares of the business’s 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 completion of the transaction, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders have sold a total of 65,121 shares of company stock valued at $5,501,324 in the last 90 days. 38.39% of the stock is owned by company insiders.

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.