Assenagon Asset Management S.A. Has $6.65 Million Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Assenagon Asset Management S.A. lowered its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 18.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,158 shares of the electronics maker’s stock after selling 18,881 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.09% of Dolby Laboratories worth $6,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of DLB. Harbor Capital Advisors Inc. increased its position in shares of Dolby Laboratories by 5.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock worth $201,000 after purchasing an additional 136 shares during the last quarter. Diversified Trust Co acquired a new position in Dolby Laboratories during the fourth quarter worth $360,000. GAMMA Investing LLC raised its position in Dolby Laboratories by 207.5% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after acquiring an additional 525 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in Dolby Laboratories by 5.8% in the third quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock valued at $21,771,000 after acquiring an additional 15,546 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Dolby Laboratories by 22.0% during the 3rd quarter. Franklin Resources Inc. now owns 47,247 shares of the electronics maker’s stock worth $3,513,000 after purchasing an additional 8,509 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Insider Activity

In other Dolby Laboratories news, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $78.96, for a total value of $479,997.84. Following the completion of the transaction, the director now directly owns 37,593 shares of the company’s stock, valued at $2,968,343.28. The trade was a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ryan Nicholson sold 10,500 shares of the stock in a transaction 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 directly owns 24,364 shares in the company, valued at approximately $1,953,505.52. This trade represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,917 shares of company stock valued at $10,877,739. 38.39% of the stock is owned by company insiders.

Dolby Laboratories Stock Performance

NYSE DLB opened at $81.24 on Monday. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $86.37. The stock has a market cap of $7.75 billion, a PE ratio of 29.98 and a beta of 0.98. The firm has a 50-day moving average of $78.07 and a 200-day moving average of $75.56.

Dolby Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.62%. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s dividend payout ratio (DPR) is currently 48.71%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities upped their target price on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. 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. Finally, StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th.

About Dolby Laboratories

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.