Dolby Laboratories, Inc. (NYSE:DLB) Stake Trimmed by Jane Street Group LLC

Jane Street Group LLC cut its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 86.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,272 shares of the electronics maker’s stock after selling 39,358 shares during the quarter. Jane Street Group LLC’s holdings in Dolby Laboratories were worth $480,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Natixis Advisors LLC increased its position in Dolby Laboratories by 2.7% in the 2nd quarter. Natixis Advisors LLC now owns 23,398 shares of the electronics maker’s stock worth $1,854,000 after buying an additional 611 shares during the period. Arizona State Retirement System boosted its stake in Dolby Laboratories by 2.6% in the second quarter. Arizona State Retirement System now owns 16,655 shares of the electronics maker’s stock worth $1,320,000 after purchasing an additional 423 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Dolby Laboratories by 39.8% in the second quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock worth $51,698,000 after purchasing an additional 185,884 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Dolby Laboratories during the second quarter valued at $973,000. Finally, Prudential PLC lifted its stake in shares of Dolby Laboratories by 0.8% during the second quarter. Prudential PLC now owns 24,078 shares of the electronics maker’s stock valued at $1,908,000 after acquiring an additional 193 shares during the period. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of Dolby Laboratories 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 directly owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. The trade was a 25.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John D. Couling sold 7,000 shares of Dolby Laboratories stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.50, for a total value of $563,500.00. Following the completion of the transaction, the senior vice president now directly owns 106,806 shares of the company’s stock, valued at approximately $8,597,883. This trade represents a 6.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,429 shares of company stock worth $12,991,048. Insiders own 38.39% of the company’s stock.

Analyst Ratings Changes

DLB has been the subject of a number of recent analyst reports. StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Rosenblatt Securities upped 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. Finally, Barrington Research reissued an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Wednesday, November 20th.

Dolby Laboratories Price Performance

Dolby Laboratories stock opened at $77.93 on Tuesday. The stock’s fifty day moving average price is $77.23 and its two-hundred day moving average price is $75.60. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $86.37. The firm has a market cap of $7.44 billion, a PE ratio of 28.76 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were paid a $0.33 dividend. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.32 annualized dividend and a dividend yield of 1.69%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.71%.

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.