Quilter Plc Sells 2,720 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Quilter Plc cut its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 19.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,204 shares of the electronics maker’s stock after selling 2,720 shares during the period. Quilter Plc’s holdings in Dolby Laboratories were worth $875,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Dolby Laboratories by 4.3% in 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 lifted its holdings in shares of Dolby Laboratories by 5.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock worth $21,771,000 after acquiring an additional 15,546 shares during the period. Barclays PLC lifted its holdings in shares of Dolby Laboratories by 80.5% during the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock worth $2,544,000 after acquiring an additional 14,825 shares during the period. Boston Trust Walden Corp lifted its holdings in shares of Dolby Laboratories by 185.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after acquiring an additional 698,283 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in Dolby Laboratories in the third quarter valued at about $3,031,000. 58.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Barrington Research restated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Monday, January 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, January 30th.

Dolby Laboratories Stock Performance

Shares of NYSE:DLB opened at $83.81 on Monday. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66. The company has a market capitalization of $8.00 billion, a PE ratio of 30.81 and a beta of 0.98. The company has a 50 day moving average price of $79.87 and a two-hundred day moving average price of $75.87.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, February 11th. Dolby Laboratories’s payout ratio is presently 48.53%.

Insider Activity

In related news, Director Peter C. Gotcher sold 6,079 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $78.96, for a total transaction of $479,997.84. Following the transaction, the director now directly owns 37,593 shares of the company’s stock, valued at approximately $2,968,343.28. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ryan Nicholson sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total transaction of $841,890.00. Following the transaction, the chief accounting officer now directly owns 24,364 shares in the company, valued at approximately $1,953,505.52. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,917 shares of company stock valued at $14,861,429 over the last ninety days. 38.39% of the stock is currently owned by company 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.