Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Horizon Investments LLC

Horizon Investments LLC decreased its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 16.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,046 shares of the electronics maker’s stock after selling 200 shares during the quarter. Horizon Investments LLC’s holdings in Dolby Laboratories were worth $82,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Twin Tree Management LP acquired a new position in shares of Dolby Laboratories in the fourth quarter worth about $662,000. Natixis Advisors LLC lifted its stake in shares of Dolby Laboratories by 2.0% in the fourth quarter. Natixis Advisors LLC now owns 21,228 shares of the electronics maker’s stock worth $1,658,000 after acquiring an additional 420 shares in the last quarter. Picton Mahoney Asset Management lifted its stake in shares of Dolby Laboratories by 46.7% in the fourth quarter. Picton Mahoney Asset Management now owns 6,941 shares of the electronics maker’s stock worth $541,000 after acquiring an additional 2,209 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Dolby Laboratories in the fourth quarter worth about $645,000. Finally, Wealthfront Advisers LLC acquired a new position in shares of Dolby Laboratories in the fourth quarter worth about $94,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Stock Down 0.8 %

Shares of Dolby Laboratories stock opened at $81.88 on Friday. The firm has a market cap of $7.81 billion, a P/E ratio of 30.10 and a beta of 1.01. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66. The business has a 50-day moving average price of $82.07 and a 200 day moving average price of $77.72.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.53%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Barrington Research reissued an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, February 13th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th.

Insider Activity

In other news, EVP Mark Andrew Sherman sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the completion of the transaction, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ryan Nicholson sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is currently owned by insiders.

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.