Mutual of America Capital Management LLC Decreases Position in Dolby Laboratories, Inc. (NYSE:DLB)

Mutual of America Capital Management LLC reduced its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,523 shares of the electronics maker’s stock after selling 730 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Dolby Laboratories were worth $2,462,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Savant Capital LLC grew its position in Dolby Laboratories by 2.0% in the fourth quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker’s stock valued at $490,000 after acquiring an additional 125 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Dolby Laboratories by 5.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock valued at $201,000 after purchasing an additional 136 shares in the last quarter. Mather Group LLC. increased its stake in Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after buying an additional 142 shares during the period. First Horizon Advisors Inc. lifted its holdings in Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after buying an additional 146 shares in the last quarter. Finally, Naples Global Advisors LLC boosted its position in Dolby Laboratories by 0.4% in the 4th quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker’s stock valued at $2,791,000 after buying an additional 160 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DLB has been the topic of several recent analyst reports. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, January 30th. Finally, Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, February 13th.

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the sale, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ryan Nicholson sold 7,000 shares of the firm’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 completion of the transaction, the chief accounting officer now owns 29,758 shares in the company, valued at approximately $2,501,755.06. The trade was a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,459 shares of company stock valued at $6,464,675 in the last quarter. Insiders own 38.39% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock opened at $83.37 on Friday. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The firm’s 50-day simple moving average is $81.26 and its 200-day simple moving average is $77.01. The firm has a market cap of $7.96 billion, a PE ratio of 30.65 and a beta of 0.98.

Dolby Laboratories Announces Dividend

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

Dolby Laboratories 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.