Harbor Capital Advisors Inc. Has $201,000 Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Harbor Capital Advisors Inc. increased its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,571 shares of the electronics maker’s stock after buying an additional 136 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Dolby Laboratories were worth $201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in shares of Dolby Laboratories during the second quarter worth about $37,000. GAMMA Investing LLC raised its holdings in Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after buying an additional 525 shares during the period. First Horizon Advisors Inc. lifted its stake in Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after buying an additional 146 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Dolby Laboratories in the third quarter valued at approximately $93,000. Finally, Blue Trust Inc. increased its position in shares of Dolby Laboratories by 234.3% during the third quarter. Blue Trust Inc. now owns 1,384 shares of the electronics maker’s stock worth $110,000 after acquiring an additional 970 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 12,338 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 62,397 shares in the company, valued at $4,871,957.76. This trade represents a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Ryan Nicholson sold 10,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total value of $841,890.00. Following the sale, the chief accounting officer now owns 24,364 shares in the company, valued at approximately $1,953,505.52. This represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,917 shares of company stock valued at $10,877,739. 39.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on DLB. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Wednesday, November 20th. Rosenblatt Securities boosted their price target on Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th.

Dolby Laboratories Stock Up 0.6 %

Shares of DLB stock opened at $79.13 on Wednesday. The firm has a market cap of $7.55 billion, a PE ratio of 29.20 and a beta of 0.98. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $86.37. The company’s fifty day simple moving average is $77.63 and its 200-day simple moving average is $75.53.

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 issued a $0.33 dividend. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.32 annualized dividend and a dividend yield of 1.67%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 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.