Dark Forest Capital Management LP Acquires Shares of 8,938 Dolby Laboratories, Inc. (NYSE:DLB)

Dark Forest Capital Management LP bought a new position in Dolby Laboratories, Inc. (NYSE:DLB) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,938 shares of the electronics maker’s stock, valued at approximately $698,000.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Dolby Laboratories by 64.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock worth $376,948,000 after purchasing an additional 1,887,518 shares during the period. Norges Bank purchased a new stake in shares of Dolby Laboratories in the 4th quarter worth approximately $55,356,000. ExodusPoint Capital Management LP bought a new position in Dolby Laboratories during the 4th quarter valued at approximately $11,459,000. Allspring Global Investments Holdings LLC increased its position 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 buying an additional 104,419 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Dolby Laboratories by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker’s stock valued at $549,325,000 after buying an additional 68,771 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barrington Research restated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, February 13th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 30th. Finally, StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st.

Dolby Laboratories Trading Up 2.7 %

Dolby Laboratories stock opened at $75.81 on Friday. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.66. The stock has a fifty day simple moving average of $78.50 and a two-hundred day simple moving average of $78.22. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 27.87 and a beta of 0.94.

Dolby Laboratories Announces Dividend

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 $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is 48.53%.

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total value of $3,395,200.00. Following the completion of the sale, the executive vice president now owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. The trade was a 39.06 % decrease in their position. The transaction 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 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 transaction, the chief marketing officer now directly owns 37,290 shares in the company, valued at $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 90 days, insiders sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is owned by insiders.

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.