Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC lowered its position in Dolby Laboratories, Inc. (NYSE:DLB) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,406 shares of the electronics maker’s stock after selling 297 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Dolby Laboratories were worth $657,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings 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 acquiring an additional 163 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Dolby Laboratories by 436.2% in the fourth 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 during the last quarter. First Horizon Advisors Inc. boosted its holdings in Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after acquiring an additional 146 shares during the last quarter. GAMMA Investing LLC boosted 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 valued at $61,000 after acquiring an additional 525 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Dolby Laboratories in the third quarter valued at $93,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Insider Transactions at Dolby Laboratories

In other news, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $78.96, for a total transaction of $479,997.84. Following the sale, the director now directly owns 37,593 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ryan Nicholson sold 10,500 shares of Dolby Laboratories stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total value of $841,890.00. Following the sale, the chief accounting officer now directly owns 24,364 shares in the company, valued at approximately $1,953,505.52. The trade was a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,917 shares of company stock valued at $10,877,739. 38.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Barrington Research restated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Wednesday, November 20th. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday.

Dolby Laboratories Price Performance

Shares of DLB opened at $79.67 on Monday. The stock’s 50-day moving average is $78.79 and its two-hundred day moving average is $75.60. The stock has a market cap of $7.60 billion, a PE ratio of 29.40 and a beta of 0.98. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $85.84.

Dolby Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Tuesday, December 3rd. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s payout ratio is currently 48.71%.

Dolby Laboratories Company 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.