Atria Investments Inc Sells 1,588 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Atria Investments Inc cut its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 34.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,032 shares of the electronics maker’s stock after selling 1,588 shares during the period. Atria Investments Inc’s holdings in Dolby Laboratories were worth $237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its position in Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 163 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Dolby Laboratories by 436.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after buying an additional 301 shares during the period. Mather Group LLC. raised its stake in Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after buying an additional 142 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after buying an additional 146 shares during the period. Finally, GAMMA Investing LLC boosted its position in Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock valued at $61,000 after acquiring an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Stock Up 0.1 %

Dolby Laboratories stock opened at $82.22 on Wednesday. The stock’s 50 day moving average is $81.86 and its 200 day moving average is $77.66. The company has a market capitalization of $7.85 billion, a P/E ratio of 30.23 and a beta of 1.01. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

Analysts Set New Price Targets

DLB has been the subject of a number of research 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 reissued a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 30th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, February 13th.

Insider Buying and Selling

In related news, EVP Mark Andrew Sherman sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value of $3,395,200.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Todd Pendleton sold 18,121 shares of Dolby Laboratories stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the sale, the chief marketing officer now directly owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,121 shares of company stock worth $5,501,324 in the last quarter. Corporate insiders own 38.39% of the company’s stock.

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.