Dolby Laboratories, Inc. (NYSE:DLB) Stake Trimmed by Empower Advisory Group LLC

Empower Advisory Group LLC lowered its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 4.6% during the fourth quarter, HoldingsChannel reports. The firm owned 6,182 shares of the electronics maker’s stock after selling 300 shares during the period. Empower Advisory Group LLC’s holdings in Dolby Laboratories were worth $483,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake 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 worth $117,767,000 after purchasing an additional 63,293 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in Dolby Laboratories by 5.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock worth $21,771,000 after purchasing an additional 15,546 shares in the last quarter. Barclays PLC increased its stake in Dolby Laboratories by 80.5% in the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock worth $2,544,000 after purchasing an additional 14,825 shares in the last quarter. Boston Trust Walden Corp increased its stake in Dolby Laboratories by 185.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after purchasing an additional 698,283 shares in the last quarter. Finally, Algert Global LLC increased its stake in Dolby Laboratories by 52.0% in the 3rd quarter. Algert Global LLC now owns 48,822 shares of the electronics maker’s stock worth $3,736,000 after purchasing an additional 16,700 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. 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. Barrington Research restated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, February 13th. Finally, StockNews.com lowered Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st.

Dolby Laboratories Trading Down 1.5 %

Shares of NYSE DLB opened at $83.27 on Thursday. The firm has a market capitalization of $7.95 billion, a PE ratio of 30.61 and a beta of 0.98. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66. The business has a 50-day moving average price of $80.52 and a two-hundred day moving average price of $76.21.

Dolby Laboratories Dividend Announcement

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

Insider Activity

In other news, SVP John D. Couling sold 50,000 shares of Dolby Laboratories stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the completion of the sale, the senior vice president now directly owns 106,806 shares in the company, valued at $8,548,752.24. The trade was a 31.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total value of $963,351.04. Following the sale, the executive vice president now owns 62,397 shares of the company’s stock, valued at approximately $4,871,957.76. This represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 176,838 shares of company stock worth $14,381,431 in the last three months. 38.39% of the stock is owned by 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.