GAMMA Investing LLC Increases Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

GAMMA Investing LLC boosted its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 207.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 778 shares of the electronics maker’s stock after purchasing an additional 525 shares during the quarter. GAMMA Investing LLC’s holdings in Dolby Laboratories were worth $61,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in DLB. 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. Glenmede Trust Co. NA raised its holdings in Dolby Laboratories by 3.5% during the third quarter. Glenmede Trust Co. NA now owns 5,376 shares of the electronics maker’s stock worth $411,000 after purchasing an additional 182 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its position in Dolby Laboratories by 1.5% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 14,026 shares of the electronics maker’s stock valued at $1,073,000 after purchasing an additional 209 shares during the period. Icon Wealth Advisors LLC boosted its holdings in Dolby Laboratories by 14.0% in the 3rd quarter. Icon Wealth Advisors LLC now owns 1,717 shares of the electronics maker’s stock valued at $131,000 after purchasing an additional 211 shares in the last quarter. Finally, Creative Planning increased its position in Dolby Laboratories by 7.5% during the 3rd quarter. Creative Planning now owns 4,094 shares of the electronics maker’s stock worth $313,000 after purchasing an additional 286 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on DLB shares. Rosenblatt Securities raised their price objective on shares of 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 raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Finally, Barrington Research restated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Wednesday, November 20th.

Insider Transactions at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 12,338 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total value of $963,351.04. Following the completion of the sale, the executive vice president now owns 62,397 shares of the company’s stock, valued at $4,871,957.76. This represents a 16.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John D. Couling sold 50,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $80.04, for a total value of $4,002,000.00. Following the completion of the sale, the senior vice president now owns 106,806 shares of the company’s stock, valued at approximately $8,548,752.24. This trade represents a 31.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,429 shares of company stock worth $12,991,048 in the last ninety days. Insiders own 39.54% of the company’s stock.

Dolby Laboratories Trading Down 0.9 %

Shares of NYSE:DLB opened at $76.43 on Monday. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $86.37. The stock’s 50-day moving average price is $77.52 and its two-hundred day moving average price is $75.54. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 28.20 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 3rd. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.73%. Dolby Laboratories’s payout ratio is currently 48.71%.

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.