Palogic Value Management L.P. Boosts Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Palogic Value Management L.P. increased its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 6.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,888 shares of the electronics maker’s stock after buying an additional 235 shares during the period. Palogic Value Management L.P.’s holdings in Dolby Laboratories were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DLB. Bank of New York Mellon Corp boosted its stake in Dolby Laboratories by 64.2% during 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 purchasing an additional 1,887,518 shares during the last quarter. Clifford Capital Partners LLC boosted its stake in Dolby Laboratories by 3,114.7% during the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock valued at $20,707,000 after purchasing an additional 262,162 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Dolby Laboratories by 10,441,900.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after purchasing an additional 104,419 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Dolby Laboratories by 496.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock valued at $7,823,000 after purchasing an additional 85,093 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in Dolby Laboratories by 4.5% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after purchasing an additional 63,589 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark Andrew Sherman sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value of $3,395,200.00. Following the transaction, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. This trade represents a 39.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on DLB shares. StockNews.com downgraded Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, Barrington Research reissued an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, February 13th.

Dolby Laboratories Price Performance

NYSE DLB opened at $81.88 on Friday. The business’s fifty day moving average price is $82.07 and its 200-day moving average price is $77.72. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 30.10 and a beta of 1.01. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66.

Dolby Laboratories Announces Dividend

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 of this dividend was Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.61%. Dolby Laboratories’s payout ratio is 48.53%.

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.