Pacer Advisors Inc. Buys 28,001 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Pacer Advisors Inc. boosted its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 211.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,223 shares of the electronics maker’s stock after purchasing an additional 28,001 shares during the period. Pacer Advisors Inc.’s holdings in Dolby Laboratories were worth $3,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its holdings in shares of Dolby Laboratories by 5.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock worth $201,000 after buying an additional 136 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 146 shares in the last quarter. Fifth Third Bancorp grew its holdings 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 worth $28,000 after purchasing an additional 163 shares during the last quarter. Glenmede Trust Co. NA increased its stake in shares of Dolby Laboratories by 3.5% in the third quarter. Glenmede Trust Co. NA now owns 5,376 shares of the electronics maker’s stock valued at $411,000 after buying an additional 182 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Dolby Laboratories by 14.7% in the fourth quarter. Blue Trust Inc. now owns 1,587 shares of the electronics maker’s stock valued at $121,000 after buying an additional 203 shares during the period. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Stock Down 4.2 %

DLB opened at $83.63 on Friday. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66. The company has a fifty day moving average of $79.35 and a 200-day moving average of $75.76. The stock has a market cap of $7.98 billion, a PE ratio of 30.75 and a beta of 0.98.

Dolby Laboratories Dividend Announcement

The firm 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 1.58%. The ex-dividend date of this dividend is Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.53%.

Insider Activity

In related news, CAO Ryan Nicholson sold 10,500 shares of the stock in a transaction on Tuesday, November 26th. The shares were 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 of the company’s stock, valued at $1,953,505.52. This represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total transaction of $479,997.84. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 135,917 shares of company stock valued at $10,877,739 in the last ninety days. 38.39% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barrington Research reissued an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a report on Monday, January 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday. Finally, StockNews.com lowered Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday.

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.