Securian Asset Management Inc. Lowers Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Securian Asset Management Inc. reduced its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 2.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,511 shares of the electronics maker’s stock after selling 128 shares during the period. Securian Asset Management Inc.’s holdings in Dolby Laboratories were worth $352,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake in shares of Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 163 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 301 shares during the period. Mather Group LLC. lifted its stake in shares of Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after acquiring an additional 142 shares during the period. GAMMA Investing LLC lifted its stake in shares of Dolby Laboratories by 207.5% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after acquiring an additional 525 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after acquiring an additional 146 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on DLB. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. Finally, Barrington Research reiterated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th.

Insiders Place Their Bets

In other Dolby Laboratories news, CMO Todd Pendleton sold 18,121 shares of Dolby Laboratories stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the transaction, the chief accounting officer now owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. The trade was a 19.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,121 shares of company stock worth $5,501,324. Insiders own 38.39% of the company’s stock.

Dolby Laboratories Stock Up 0.1 %

Shares of NYSE DLB opened at $82.22 on Wednesday. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66. The firm has a 50-day moving average price of $81.86 and a 200 day moving average price of $77.66. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 30.23 and a beta of 1.01.

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 given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories’s payout ratio is currently 48.53%.

Dolby Laboratories 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.