Natixis Advisors LLC Has $1.59 Million Position in Dolby Laboratories, Inc. (NYSE:DLB)

Natixis Advisors LLC lessened its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 11.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,808 shares of the electronics maker’s stock after selling 2,590 shares during the period. Natixis Advisors LLC’s holdings in Dolby Laboratories were worth $1,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Empowered Funds LLC lifted its stake in Dolby Laboratories by 21.8% in the 3rd quarter. Empowered Funds LLC now owns 7,528 shares of the electronics maker’s stock worth $576,000 after acquiring an additional 1,348 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Dolby Laboratories by 18.5% in the third quarter. Victory Capital Management Inc. now owns 14,665 shares of the electronics maker’s stock worth $1,122,000 after purchasing an additional 2,288 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Dolby Laboratories during the third quarter worth approximately $1,503,000. State of New Jersey Common Pension Fund D grew its position in Dolby Laboratories by 20.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 27,910 shares of the electronics maker’s stock valued at $2,136,000 after purchasing an additional 4,656 shares in the last quarter. Finally, Assetmark Inc. increased its stake in Dolby Laboratories by 9.0% in the 3rd quarter. Assetmark Inc. now owns 19,540 shares of the electronics maker’s stock valued at $1,495,000 after buying an additional 1,606 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insiders Place Their Bets

In other news, Director Peter C. Gotcher sold 6,079 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the completion of the sale, the director now directly owns 37,593 shares in the company, valued at approximately $2,968,343.28. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin J. Yeaman sold 28,512 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the sale, the chief executive officer now directly 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. Company insiders own 39.54% of the company’s stock.

Analysts Set New Price Targets

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

Dolby Laboratories Stock Down 0.3 %

DLB stock opened at $80.33 on Tuesday. The firm has a 50 day moving average of $74.50 and a two-hundred day moving average of $75.96. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $90.06. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 29.64 and a beta of 0.98.

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

Dolby Laboratories Increases Dividend

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

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.