5,515 Shares in Dolby Laboratories, Inc. (NYSE:DLB) Acquired by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. acquired a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB) in the 4th quarter, Holdings Channel reports. The fund acquired 5,515 shares of the electronics maker’s stock, valued at approximately $431,000.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Dolby Laboratories by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker’s stock valued at $549,325,000 after acquiring an additional 68,771 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Dolby Laboratories by 64.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock worth $376,948,000 after buying an additional 1,887,518 shares during the last quarter. State Street Corp increased its position in Dolby Laboratories by 1.5% during the third quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock worth $147,824,000 after buying an additional 29,289 shares during the period. Geode Capital Management LLC lifted its stake in Dolby Laboratories by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after buying an additional 63,293 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in shares of Dolby Laboratories by 4.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after acquiring an additional 63,589 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Performance

Shares of DLB opened at $79.94 on Friday. The stock has a market capitalization of $7.63 billion, a P/E ratio of 29.39 and a beta of 1.01. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The company’s fifty day moving average is $82.25 and its two-hundred day moving average is $78.26.

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. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.65%. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Insider Activity at Dolby Laboratories

In other news, CAO Ryan Nicholson sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total value of $588,490.00. Following the completion of the sale, the chief accounting officer now directly owns 29,758 shares of the company’s stock, valued at $2,501,755.06. This trade represents a 19.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value of $3,395,200.00. Following the completion of the transaction, the executive vice president now owns 62,397 shares of the company’s stock, valued at $5,296,257.36. The trade was a 39.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,121 shares of company stock worth $5,501,324 over the last 90 days. Company insiders own 38.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.