Blair William & Co. IL Cuts Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Blair William & Co. IL lowered its position in Dolby Laboratories, Inc. (NYSE:DLB) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,742 shares of the electronics maker’s stock after selling 1,220 shares during the period. Blair William & Co. IL owned about 0.06% of Dolby Laboratories worth $4,197,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after buying an additional 163 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Dolby Laboratories by 436.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 301 shares during the last quarter. Mather Group LLC. lifted its holdings in Dolby Laboratories by 36.8% during the fourth 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 boosted its position in Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after purchasing an additional 525 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new position in Dolby Laboratories in the 4th quarter valued at $94,000. 58.56% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the sale, the executive vice president now owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Todd Pendleton sold 18,121 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the sale, the chief marketing officer now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 65,121 shares of company stock valued at $5,501,324. Company insiders own 38.39% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock opened at $80.32 on Tuesday. The stock has a market capitalization of $7.66 billion, a P/E ratio of 29.53 and a beta of 1.01. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The stock’s 50-day simple moving average is $82.24 and its 200 day simple moving average is $78.39.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories’s payout ratio is currently 48.53%.

Analysts Set New Price Targets

DLB has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, February 13th.

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.