Victory Capital Management Inc. Buys 7,710 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Victory Capital Management Inc. increased its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 52.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,375 shares of the electronics maker’s stock after purchasing an additional 7,710 shares during the quarter. Victory Capital Management Inc.’s holdings in Dolby Laboratories were worth $1,747,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Savant Capital LLC lifted its position in shares of Dolby Laboratories by 2.0% during the fourth quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker’s stock valued at $490,000 after buying an additional 125 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Dolby Laboratories by 5.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock worth $201,000 after acquiring an additional 136 shares in the last quarter. Mather Group LLC. lifted its position in Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after acquiring an additional 142 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after acquiring an additional 146 shares in the last quarter. Finally, Naples Global Advisors LLC grew its holdings in Dolby Laboratories by 0.4% in the fourth quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker’s stock worth $2,791,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In related news, CAO Ryan Nicholson sold 7,000 shares of the business’s stock in a transaction 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 $2,501,755.06. The trade was a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Todd Pendleton sold 18,121 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at $3,123,037.50. This represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,121 shares of company stock worth $5,501,324. 38.39% of the stock is currently owned by insiders.

Dolby Laboratories Trading Up 0.3 %

NYSE DLB opened at $82.15 on Tuesday. The stock has a market cap of $7.84 billion, a P/E ratio of 30.20 and a beta of 1.01. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The company has a fifty day simple moving average of $81.77 and a two-hundred day simple moving average of $77.58.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.61%. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Analyst Upgrades and Downgrades

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

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.