By otakuyassine3@gmail.com 
Diversified Investment Strategies LLC lifted its holdings in Dolby Laboratories, Inc. (NYSE:DLB – Free Report) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,395 shares of the electronics maker’s stock after acquiring an additional 195 shares during the quarter. Dolby Laboratories makes up approximately 3.0% of Diversified Investment Strategies LLC’s holdings, making the stock its 12th largest holding. Diversified Investment Strategies LLC owned about 0.06% of Dolby Laboratories worth $4,639,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of DLB. Fifth Third Bancorp boosted its holdings in shares of Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 163 shares in the last quarter. Nisa Investment Advisors LLC lifted 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 buying an additional 301 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after buying an additional 146 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after buying an additional 525 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Dolby Laboratories during the 3rd quarter worth $93,000. 58.56% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have issued reports on DLB. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 23rd. StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Finally, Barrington Research reissued an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Monday.
Read Our Latest Analysis on DLB
Dolby Laboratories Stock Down 0.1 %
DLB opened at $80.57 on Wednesday. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $85.30. The company has a fifty day simple moving average of $79.18 and a 200 day simple moving average of $75.62. The stock has a market cap of $7.69 billion, a P/E ratio of 29.70 and a beta of 0.98.
Dolby Laboratories Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.64%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s dividend payout ratio is currently 48.71%.
Insider Activity at Dolby Laboratories
In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 12,338 shares of the stock in a transaction dated Tuesday, December 17th. The stock was 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 owns 62,397 shares in the company, valued at approximately $4,871,957.76. This represents a 16.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John D. Couling sold 50,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $80.04, for a total value of $4,002,000.00. Following the transaction, the senior vice president now owns 106,806 shares of the company’s stock, valued at approximately $8,548,752.24. This trade represents a 31.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 135,917 shares of company stock worth $10,877,739 in the last quarter. Corporate insiders own 38.39% of the company’s stock.
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.
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