Dolby Laboratories, Inc. (NYSE:DLB) Shares Acquired by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lifted its position in Dolby Laboratories, Inc. (NYSE:DLB) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 136,711 shares of the electronics maker’s stock after purchasing an additional 1,720 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.14% of Dolby Laboratories worth $10,677,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DLB. Fifth Third Bancorp boosted its holdings in shares of Dolby Laboratories by 82.7% in 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 period. Nisa Investment Advisors LLC boosted its stake in Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 301 shares during the period. Mather Group LLC. boosted its stake in Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after purchasing an additional 142 shares during the period. GAMMA Investing LLC grew its position in Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after purchasing an additional 525 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in Dolby Laboratories in the fourth quarter valued at $94,000. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Wall Street Analysts Forecast Growth

DLB has been the topic of a number of research reports. Barrington Research reissued an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, February 13th. StockNews.com downgraded Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, January 30th.

Dolby Laboratories Stock Down 2.1 %

Shares of Dolby Laboratories stock opened at $79.94 on Friday. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 29.39 and a beta of 1.01. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The company’s 50-day simple moving average is $82.25 and its 200-day simple moving average is $78.19.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.65%. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Insider Activity at Dolby Laboratories

In related news, EVP Mark Andrew Sherman sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.88, for a total value 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 $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Todd Pendleton sold 18,121 shares of the company’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 transaction, the chief marketing officer now owns 37,290 shares in the company, valued at $3,123,037.50. The trade was a 32.70 % 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 worth $5,501,324 over the last three months. 38.39% of the stock is currently 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.