GSA Capital Partners LLP Has $383,000 Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

GSA Capital Partners LLP reduced its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 42.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,002 shares of the electronics maker’s stock after selling 3,690 shares during the period. GSA Capital Partners LLP’s holdings in Dolby Laboratories were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its position in Dolby Laboratories by 8.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 11,063 shares of the electronics maker’s stock valued at $924,000 after purchasing an additional 874 shares during the period. Vanguard Group Inc. raised its position in Dolby Laboratories by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock valued at $544,711,000 after buying an additional 107,713 shares during the last quarter. LRI Investments LLC bought a new position in shares of Dolby Laboratories during the first quarter valued at about $178,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Dolby Laboratories by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,160 shares of the electronics maker’s stock worth $4,538,000 after buying an additional 855 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in Dolby Laboratories by 41.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 5,363 shares of the electronics maker’s stock worth $425,000 after purchasing an additional 1,569 shares during the last quarter. 58.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

DLB has been the subject of a number of research reports. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Monday. Rosenblatt Securities increased their price target on shares of Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barrington Research restated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Wednesday.

Insider Activity

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the transaction, the chief executive officer now owns 83,721 shares in the company, valued at $6,205,400.52. The trade was a 25.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 39.54% of the stock is currently owned by corporate insiders.

Dolby Laboratories Trading Down 2.0 %

Shares of Dolby Laboratories stock opened at $80.31 on Friday. The firm has a market capitalization of $7.66 billion, a PE ratio of 29.63 and a beta of 0.98. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $90.06. The business’s 50-day moving average price is $74.15 and its 200-day moving average price is $76.08.

Dolby Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd will be paid a $0.33 dividend. The ex-dividend date is Tuesday, December 3rd. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.64%. Dolby Laboratories’s payout ratio is currently 44.28%.

Dolby Laboratories announced that its Board of Directors has approved a share repurchase program on Wednesday, August 7th that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the electronics maker to buy up to 5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.