Dolby Laboratories, Inc. (NYSE:DLB) Shares Bought by Savant Capital LLC

Savant Capital LLC boosted its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 2.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,274 shares of the electronics maker’s stock after acquiring an additional 125 shares during the period. Savant Capital LLC’s holdings in Dolby Laboratories were worth $490,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Entropy Technologies LP acquired a new position in Dolby Laboratories during the fourth quarter worth $1,268,000. Mather Group LLC. raised its position in Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after acquiring an additional 142 shares during the period. Boston Trust Walden Corp grew its holdings in shares of Dolby Laboratories by 0.9% during the fourth quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker’s stock worth $84,715,000 after buying an additional 9,624 shares in the last quarter. Willis Investment Counsel grew its holdings in shares of Dolby Laboratories by 3.5% during the fourth quarter. Willis Investment Counsel now owns 6,157 shares of the electronics maker’s stock worth $481,000 after buying an additional 206 shares in the last quarter. Finally, Diversified Investment Strategies LLC grew its holdings in shares of Dolby Laboratories by 0.3% during the fourth quarter. Diversified Investment Strategies LLC now owns 59,395 shares of the electronics maker’s stock worth $4,639,000 after buying an additional 195 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dolby Laboratories

In related news, Director Peter C. Gotcher sold 6,079 shares of the company’s 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 completion of the sale, the director now owns 37,593 shares of the company’s stock, valued at approximately $2,968,343.28. This represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Ryan Nicholson sold 10,500 shares of the company’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. This represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,917 shares of company stock valued at $14,861,429. 38.39% of the stock is owned by company insiders.

Dolby Laboratories Trading Down 0.7 %

Shares of DLB opened at $83.72 on Monday. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The firm has a 50-day moving average price of $80.26 and a 200 day moving average price of $76.06. The firm has a market capitalization of $7.99 billion, a P/E ratio of 30.78 and a beta of 0.98.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barrington Research reaffirmed an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a report on Thursday. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, January 30th.

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.