Sanctuary Advisors LLC Sells 1,147 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Sanctuary Advisors LLC reduced its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 13.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,698 shares of the electronics maker’s stock after selling 1,147 shares during the quarter. Sanctuary Advisors LLC’s holdings in Dolby Laboratories were worth $601,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of DLB. State of New Jersey Common Pension Fund D increased its holdings in Dolby Laboratories by 6.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 29,603 shares of the electronics maker’s stock worth $2,312,000 after buying an additional 1,693 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Dolby Laboratories by 0.5% in the fourth quarter. Rhumbline Advisers now owns 250,121 shares of the electronics maker’s stock worth $19,534,000 after acquiring an additional 1,194 shares during the period. Vontobel Holding Ltd. purchased a new position in shares of Dolby Laboratories during the fourth quarter valued at approximately $1,237,000. Naples Global Advisors LLC raised its holdings in shares of Dolby Laboratories by 0.4% during the fourth quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker’s stock valued at $2,791,000 after purchasing an additional 160 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Dolby Laboratories by 10,441,900.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after purchasing an additional 104,419 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DLB shares. Barrington Research restated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, February 13th. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research 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.

Dolby Laboratories Stock Up 0.8 %

Dolby Laboratories stock opened at $81.72 on Friday. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The firm’s fifty day moving average is $80.99 and its 200 day moving average is $76.76. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 30.05 and a beta of 0.98.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.62%. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total transaction of $963,351.04. Following the completion of the sale, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at $4,871,957.76. The trade was a 16.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Todd Pendleton sold 18,121 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now directly owns 37,290 shares of the company’s stock, valued at $3,123,037.50. This trade represents a 32.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,459 shares of company stock worth $6,464,675. Insiders own 38.39% of the company’s stock.

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.