Venturi Wealth Management LLC Acquires 3,787 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Venturi Wealth Management LLC lifted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 8,415.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,832 shares of the electronics maker’s stock after purchasing an additional 3,787 shares during the period. Venturi Wealth Management LLC’s holdings in Dolby Laboratories were worth $299,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Fifth Third Bancorp lifted its stake in Dolby Laboratories by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after buying an additional 163 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 301 shares in the last quarter. Mather Group LLC. lifted its position in shares of Dolby Laboratories by 36.8% during the 4th 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 period. First Horizon Advisors Inc. boosted its stake in Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after acquiring an additional 146 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after purchasing an additional 525 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Trading Down 1.2 %

DLB opened at $82.36 on Friday. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 30.28 and a beta of 0.98. The company’s fifty day moving average price is $80.56 and its two-hundred day moving average price is $76.25.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were given a $0.33 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.60%. Dolby Laboratories’s payout ratio is 48.53%.

Insider Activity at Dolby Laboratories

In related news, CAO Ryan Nicholson sold 10,500 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total value of $841,890.00. Following the completion of the sale, the chief accounting officer now directly owns 24,364 shares of the company’s stock, valued at approximately $1,953,505.52. This represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin J. Yeaman sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.54, for a total value of $4,027,000.00. Following the transaction, the chief executive officer now owns 83,721 shares in the company, valued at approximately $6,742,889.34. This trade represents a 37.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 126,838 shares of company stock valued at $10,379,431. 38.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, January 30th. Finally, StockNews.com lowered Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st.

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.