Dolby Laboratories, Inc. (NYSE:DLB) Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC raised its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,184 shares of the electronics maker’s stock after purchasing an additional 390 shares during the quarter. Moran Wealth Management LLC’s holdings in Dolby Laboratories were worth $717,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Dolby Laboratories by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after acquiring an additional 63,293 shares during the period. Lord Abbett & CO. LLC grew its stake in Dolby Laboratories by 5.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock valued at $21,771,000 after purchasing an additional 15,546 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Dolby Laboratories by 10,441,900.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after purchasing an additional 104,419 shares during the period. Barclays PLC raised its stake in shares of Dolby Laboratories by 80.5% in the third quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock worth $2,544,000 after purchasing an additional 14,825 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Dolby Laboratories by 52.0% during the third quarter. Algert Global LLC now owns 48,822 shares of the electronics maker’s stock worth $3,736,000 after purchasing an additional 16,700 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 12,338 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total transaction of $963,351.04. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,459 shares of company stock worth $6,464,675. 38.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Dolby Laboratories Trading Down 0.1 %

Shares of NYSE:DLB opened at $81.93 on Wednesday. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The business has a 50 day moving average of $81.51 and a two-hundred day moving average of $77.29. The company has a market capitalization of $7.82 billion, a PE ratio of 30.12 and a beta of 1.01.

Dolby Laboratories Dividend Announcement

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