Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Empowered Funds LLC

Empowered Funds LLC decreased its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,034 shares of the electronics maker’s stock after selling 494 shares during the period. Empowered Funds LLC’s holdings in Dolby Laboratories were worth $549,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. State Street Corp lifted its holdings in shares of Dolby Laboratories by 1.5% in the 3rd quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock worth $147,824,000 after purchasing an additional 29,289 shares during the last quarter. Geode Capital Management LLC increased its position in 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 buying an additional 63,293 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in Dolby Laboratories by 4.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after buying an additional 63,589 shares during the last quarter. Boston Trust Walden Corp boosted 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 valued at $84,715,000 after acquiring an additional 9,624 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in shares of Dolby Laboratories by 5.8% during the third quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock worth $21,771,000 after acquiring an additional 15,546 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Insider Activity

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.54, for a total value of $4,027,000.00. Following the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at approximately $6,742,889.34. The trade was a 37.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John D. Couling sold 7,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.50, for a total transaction of $563,500.00. Following the transaction, the senior vice president now owns 106,806 shares of the company’s stock, valued at approximately $8,597,883. This trade represents a 6.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,917 shares of company stock worth $14,861,429 over the last three months. Corporate insiders own 38.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 30th. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Finally, Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, February 13th.

Dolby Laboratories Stock Up 1.0 %

Shares of NYSE DLB opened at $84.61 on Wednesday. The stock has a market cap of $8.08 billion, a P/E ratio of 31.11 and a beta of 0.98. The firm’s 50-day simple moving average is $80.46 and its 200 day simple moving average is $76.16. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.

Dolby Laboratories Dividend Announcement

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

Dolby Laboratories Company 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.