Dolby Laboratories, Inc. (NYSE:DLB) Shares Purchased by Willis Investment Counsel

Willis Investment Counsel raised its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,157 shares of the electronics maker’s stock after buying an additional 206 shares during the quarter. Willis Investment Counsel’s holdings in Dolby Laboratories were worth $481,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in shares of Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 163 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 301 shares in the last quarter. First Horizon Advisors Inc. boosted its stake 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 worth $60,000 after purchasing an additional 146 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Dolby Laboratories by 207.5% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after buying an additional 525 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of Dolby Laboratories in the third quarter valued at approximately $93,000. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Dolby Laboratories

In other news, SVP John D. Couling sold 7,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.50, for a total value of $563,500.00. Following the transaction, the senior vice president now owns 106,806 shares of the company’s stock, valued at approximately $8,597,883. This trade represents a 6.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Andrew Sherman sold 12,338 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total transaction of $963,351.04. Following the sale, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at approximately $4,871,957.76. This trade represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,917 shares of company stock worth $10,877,739. 38.39% of the stock is owned by insiders.

Dolby Laboratories Stock Performance

Dolby Laboratories stock opened at $83.63 on Monday. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The firm has a 50 day moving average price of $79.35 and a 200 day moving average price of $75.69. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 30.75 and a beta of 0.98.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.58%. Dolby Laboratories’s payout ratio is 48.53%.

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.