Y Intercept Hong Kong Ltd Purchases New Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Y Intercept Hong Kong Ltd acquired a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,155 shares of the electronics maker’s stock, valued at approximately $246,000.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its stake in shares of Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 163 shares during the period. Nisa Investment Advisors LLC raised its holdings in Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 301 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 142 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 146 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Dolby Laboratories by 207.5% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after buying an additional 525 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the sale, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $5,296,257.36. This trade represents a 39.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,758 shares in the company, valued at approximately $2,501,755.06. The trade was a 19.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,459 shares of company stock worth $6,464,675. Corporate insiders own 38.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DLB shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Finally, Barrington Research reissued an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, February 13th.

Dolby Laboratories Stock Performance

Shares of NYSE:DLB opened at $80.56 on Wednesday. The company has a 50 day moving average price of $81.10 and a two-hundred day moving average price of $76.94. The company has a market capitalization of $7.69 billion, a PE ratio of 29.62 and a beta of 0.98. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66.

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s payout ratio is presently 48.53%.

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.