Aigen Investment Management LP Has $618,000 Position in Dolby Laboratories, Inc. (NYSE:DLB)

Aigen Investment Management LP cut its position in Dolby Laboratories, Inc. (NYSE:DLB) by 59.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,917 shares of the electronics maker’s stock after selling 11,723 shares during the quarter. Aigen Investment Management LP’s holdings in Dolby Laboratories were worth $618,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning increased its position in Dolby Laboratories by 7.5% during the 3rd quarter. Creative Planning now owns 4,094 shares of the electronics maker’s stock worth $313,000 after purchasing an additional 286 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Dolby Laboratories by 37.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,326 shares of the electronics maker’s stock worth $408,000 after purchasing an additional 1,465 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Dolby Laboratories by 19.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,435 shares of the electronics maker’s stock worth $186,000 after purchasing an additional 390 shares in the last quarter. Van ECK Associates Corp increased its position in Dolby Laboratories by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 34,881 shares of the electronics maker’s stock worth $2,535,000 after purchasing an additional 9,967 shares in the last quarter. Finally, Equitable Trust Co. acquired a new position in Dolby Laboratories during the 3rd quarter worth approximately $460,000. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Price Performance

DLB opened at $82.49 on Friday. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 30.33 and a beta of 0.98. The company’s 50 day moving average price is $81.18 and its two-hundred day moving average price is $76.97.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories’s payout ratio is 48.53%.

Insiders Place Their Bets

In other news, CMO Todd Pendleton sold 18,121 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total value of $1,517,633.75. Following the sale, the chief marketing officer now directly owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the completion of the sale, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,459 shares of company stock valued at $6,464,675 in the last ninety days. 38.39% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DLB shares. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 30th. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, February 13th.

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.