Janney Montgomery Scott LLC Reduces Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Janney Montgomery Scott LLC trimmed its position in Dolby Laboratories, Inc. (NYSE:DLB) by 23.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,188 shares of the electronics maker’s stock after selling 3,168 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Dolby Laboratories were worth $796,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of DLB. State Street Corp raised its position in Dolby Laboratories by 1.5% during the 3rd quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock worth $147,824,000 after buying an additional 29,289 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Dolby Laboratories by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock worth $117,767,000 after acquiring an additional 63,293 shares during the period. Disciplined Growth Investors Inc. MN raised its holdings in shares of Dolby Laboratories by 4.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after purchasing an additional 63,589 shares during the last quarter. Boston Trust Walden Corp lifted its position in Dolby Laboratories by 185.3% during the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after purchasing an additional 698,283 shares during the period. Finally, Lord Abbett & CO. LLC boosted its holdings 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 purchasing an additional 15,546 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Insider Buying and Selling

In other news, SVP John D. Couling sold 50,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $80.04, for a total transaction 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 $8,548,752.24. The trade was a 31.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Ryan Nicholson sold 7,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the transaction, the chief accounting officer now owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 182,917 shares of company stock valued at $14,861,429. 38.39% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on DLB shares. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Barrington Research restated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Monday, January 27th.

Dolby Laboratories Stock Performance

DLB opened at $84.50 on Friday. The company has a fifty day moving average of $79.76 and a two-hundred day moving average of $75.87. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 31.07 and a beta of 0.98. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.56%. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

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.