MML Investors Services LLC Sells 6,105 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

MML Investors Services LLC decreased its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 68.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,784 shares of the electronics maker’s stock after selling 6,105 shares during the period. MML Investors Services LLC’s holdings in Dolby Laboratories were worth $213,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. lifted its stake in Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 146 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Dolby Laboratories by 5.1% in the 2nd quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock valued at $251,000 after acquiring an additional 153 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Dolby Laboratories by 3.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,376 shares of the electronics maker’s stock valued at $411,000 after acquiring an additional 182 shares in the last quarter. Prudential PLC grew its position in Dolby Laboratories by 0.8% during the 2nd quarter. Prudential PLC now owns 24,078 shares of the electronics maker’s stock worth $1,908,000 after acquiring an additional 193 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC grew its position in Dolby Laboratories by 1.5% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 14,026 shares of the electronics maker’s stock worth $1,073,000 after acquiring an additional 209 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Stock Up 0.4 %

DLB stock opened at $78.59 on Friday. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 29.00 and a beta of 0.98. The company’s fifty day simple moving average is $76.56 and its 200 day simple moving average is $75.68. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $87.12.

Dolby Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd were paid a $0.33 dividend. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, December 3rd. Dolby Laboratories’s payout ratio is 48.71%.

Insider Activity

In other news, CAO Ryan Nicholson sold 10,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total transaction of $841,890.00. Following the completion of the sale, the chief accounting officer now directly owns 24,364 shares of the company’s stock, valued at $1,953,505.52. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the transaction, the director now owns 37,593 shares of the company’s stock, valued at $2,968,343.28. This trade represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,429 shares of company stock worth $12,991,048. Company insiders own 39.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Rosenblatt Securities lifted their price target on Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. StockNews.com upgraded shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 4th. Finally, Barrington Research restated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Wednesday, November 20th.

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.