Dolby Laboratories, Inc. (NYSE:DLB) Holdings Cut by Natixis Advisors LLC

Natixis Advisors LLC cut its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 11.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,808 shares of the electronics maker’s stock after selling 2,590 shares during the quarter. Natixis Advisors LLC’s holdings in Dolby Laboratories were worth $1,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. grew its stake in Dolby Laboratories by 398.8% during the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock worth $35,000 after buying an additional 331 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Dolby Laboratories in the 2nd quarter valued at about $37,000. GAMMA Investing LLC boosted its stake in Dolby Laboratories by 64.6% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 192 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Dolby Laboratories by 192.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock worth $46,000 after purchasing an additional 379 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Dolby Laboratories in the second quarter valued at approximately $146,000. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DLB shares. Rosenblatt Securities boosted their price objective on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. StockNews.com lowered Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Barrington Research reissued an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Wednesday, November 20th.

Dolby Laboratories Price Performance

Dolby Laboratories stock opened at $80.33 on Tuesday. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $90.06. The stock has a market capitalization of $7.66 billion, a PE ratio of 29.64 and a beta of 0.98. The firm has a 50 day simple moving average of $74.50 and a 200-day simple moving average of $75.96.

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 given a $0.33 dividend. The ex-dividend date is Tuesday, December 3rd. This is a boost 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 48.71%.

Dolby Laboratories declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 7th that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the electronics maker to purchase up to 5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Dolby Laboratories

In other news, Director Peter C. Gotcher sold 6,079 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $78.96, for a total transaction of $479,997.84. Following the sale, the director now directly owns 37,593 shares of the company’s stock, valued at $2,968,343.28. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin J. Yeaman sold 28,512 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the sale, the chief executive officer now directly owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. This represents a 25.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.54% of the stock is owned by corporate insiders.

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.