Commerce Bank Has $761,000 Position in Dolby Laboratories, Inc. (NYSE:DLB)

Commerce Bank lowered its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 5.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 9,949 shares of the electronics maker’s stock after selling 624 shares during the period. Commerce Bank’s holdings in Dolby Laboratories were worth $761,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of Dolby Laboratories by 398.8% during the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 331 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Dolby Laboratories in the second quarter valued at $37,000. GAMMA Investing LLC raised its position in shares of Dolby Laboratories by 64.6% in the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 192 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Dolby Laboratories by 192.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock worth $46,000 after buying an additional 379 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in shares of Dolby Laboratories during the 3rd quarter worth about $93,000. Institutional investors own 58.56% of the company’s stock.

Insider Activity at Dolby Laboratories

In related news, Director Peter C. Gotcher sold 6,079 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total transaction of $479,997.84. Following the sale, the director now owns 37,593 shares in the company, valued at approximately $2,968,343.28. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin J. Yeaman sold 28,512 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the transaction, the chief executive officer now owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. This represents a 25.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.54% of the stock is owned by insiders.

Dolby Laboratories Trading Down 0.3 %

Shares of DLB opened at $80.33 on Tuesday. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $90.06. The firm’s 50 day moving average is $74.50 and its 200-day moving average is $75.96. The stock has a market capitalization of $7.66 billion, a PE ratio of 29.64 and a beta of 0.98.

Dolby Laboratories declared that its board has approved a share repurchase program on Wednesday, August 7th that authorizes the company to repurchase $350.00 million in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Dolby Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.64%. Dolby Laboratories’s payout ratio is currently 48.71%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Rosenblatt Securities boosted their price target on Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Wednesday, November 20th.

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.