Naples Global Advisors LLC Increases Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Naples Global Advisors LLC grew its position in Dolby Laboratories, Inc. (NYSE:DLB) by 0.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 35,730 shares of the electronics maker’s stock after buying an additional 160 shares during the period. Naples Global Advisors LLC’s holdings in Dolby Laboratories were worth $2,791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DLB. Allspring Global Investments Holdings LLC raised its holdings in Dolby Laboratories by 10,441,900.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock worth $8,123,000 after acquiring an additional 104,419 shares during the last quarter. Arlington Trust Co LLC increased its holdings in shares of Dolby Laboratories by 15.0% in the 4th quarter. Arlington Trust Co LLC now owns 1,725 shares of the electronics maker’s stock worth $135,000 after purchasing an additional 225 shares in the last quarter. Savant Capital LLC raised its stake in shares of Dolby Laboratories by 2.0% in the fourth quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker’s stock worth $490,000 after purchasing an additional 125 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Dolby Laboratories during the fourth quarter valued at $1,268,000. Finally, Mather Group LLC. lifted its holdings in shares of Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barrington Research reiterated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Monday, January 27th. StockNews.com cut shares of 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 price objective on shares of Dolby Laboratories in a research report on Thursday, January 30th.

Dolby Laboratories Stock Performance

Dolby Laboratories stock opened at $83.00 on Thursday. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66. The stock has a fifty day moving average of $80.07 and a 200 day moving average of $76.00. The stock has a market cap of $7.92 billion, a PE ratio of 30.51 and a beta of 0.98.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, February 11th. Dolby Laboratories’s payout ratio is currently 48.53%.

Insider Transactions at Dolby Laboratories

In related news, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction on Thursday, November 21st. The stock was 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 in the company, valued at approximately $2,968,343.28. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ryan Nicholson sold 10,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total value of $841,890.00. Following the sale, the chief accounting officer now directly owns 24,364 shares of the company’s stock, valued at $1,953,505.52. This represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,917 shares of company stock worth $14,861,429 in the last quarter. Company insiders own 38.39% of the company’s stock.

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.