Dolby Laboratories, Inc. (NYSE:DLB) Shares Bought by AlphaQuest LLC

AlphaQuest LLC raised its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 111.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,148 shares of the electronics maker’s stock after acquiring an additional 3,235 shares during the period. AlphaQuest LLC’s holdings in Dolby Laboratories were worth $480,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in Dolby Laboratories by 64.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock valued at $376,948,000 after acquiring an additional 1,887,518 shares during the last quarter. State Street Corp lifted its stake in Dolby Laboratories by 1.5% during the third quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock valued at $147,824,000 after buying an additional 29,289 shares in the last quarter. Geode Capital Management LLC lifted its stake in Dolby Laboratories by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after buying an additional 63,293 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in Dolby Laboratories by 4.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after buying an additional 63,589 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its stake in Dolby Laboratories by 0.9% during the fourth quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker’s stock valued at $84,715,000 after buying an additional 9,624 shares in the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 value 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. This represents a 32.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Andrew Sherman sold 12,338 shares of the company’s 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 completion of the transaction, the executive vice president now owns 62,397 shares in the company, valued at $4,871,957.76. This represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,459 shares of company stock worth $6,464,675 in the last 90 days. Company insiders own 38.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th.

Dolby Laboratories Price Performance

Shares of DLB opened at $81.27 on Thursday. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 29.88 and a beta of 1.01. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66. The business’s 50-day moving average is $81.57 and its 200-day moving average is $77.32.

Dolby Laboratories Dividend Announcement

The firm also recently announced 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 was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.62%. Dolby Laboratories’s dividend payout ratio is 48.53%.

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.