Nisa Investment Advisors LLC Boosts Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Nisa Investment Advisors LLC increased its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 436.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370 shares of the electronics maker’s stock after buying an additional 301 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Dolby Laboratories were worth $29,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its stake 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 during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after purchasing an additional 146 shares during the period. Glenmede Trust Co. NA boosted its position in Dolby Laboratories by 3.5% in the third quarter. Glenmede Trust Co. NA now owns 5,376 shares of the electronics maker’s stock valued at $411,000 after buying an additional 182 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its position in Dolby Laboratories by 1.5% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 14,026 shares of the electronics maker’s stock valued at $1,073,000 after buying an additional 209 shares during the last quarter. Finally, Icon Wealth Advisors LLC increased its holdings in Dolby Laboratories by 14.0% in the 3rd quarter. Icon Wealth Advisors LLC now owns 1,717 shares of the electronics maker’s stock worth $131,000 after buying an additional 211 shares during the period. 58.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Monday, January 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday. Finally, StockNews.com lowered Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday.

Insider Buying and Selling

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 12,338 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total transaction of $963,351.04. Following the completion of the transaction, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $4,871,957.76. This represents a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP John D. Couling sold 7,000 shares of Dolby Laboratories stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.50, for a total transaction of $563,500.00. Following the completion of the sale, the senior vice president now owns 106,806 shares in the company, valued at approximately $8,597,883. This trade represents a 6.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,917 shares of company stock valued at $10,877,739. 38.39% of the stock is owned by company insiders.

Dolby Laboratories Price Performance

DLB opened at $83.63 on Friday. The firm has a fifty day moving average price of $79.35 and a 200 day moving average price of $75.76. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The stock has a market cap of $7.98 billion, a P/E ratio of 30.75 and a beta of 0.98.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.58%. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

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.