Dolby Laboratories, Inc. (NYSE:DLB) Shares Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. boosted its position in Dolby Laboratories, Inc. (NYSE:DLB) by 339.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,796 shares of the electronics maker’s stock after acquiring an additional 12,204 shares during the quarter. Fox Run Management L.L.C.’s holdings in Dolby Laboratories were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DLB. Bank of New York Mellon Corp boosted its holdings in Dolby Laboratories by 64.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock valued at $376,948,000 after acquiring an additional 1,887,518 shares during the last quarter. Clifford Capital Partners LLC lifted its stake in shares of Dolby Laboratories by 3,114.7% during the third quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after purchasing an additional 262,162 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Dolby Laboratories by 10,441,900.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock worth $8,123,000 after purchasing an additional 104,419 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Dolby Laboratories by 496.7% during the third quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock worth $7,823,000 after purchasing an additional 85,093 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its stake in shares of Dolby Laboratories by 4.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after purchasing an additional 63,589 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of NYSE DLB opened at $80.94 on Friday. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 29.76 and a beta of 1.01. The stock’s 50-day simple moving average is $82.16 and its 200-day simple moving average is $77.84.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Analysts Set New Price Targets

DLB has been the topic of a number of analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, February 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, January 30th. Finally, StockNews.com lowered Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st.

Insider Activity at Dolby Laboratories

In related news, CMO Todd Pendleton sold 18,121 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the sale, the chief marketing officer now directly owns 37,290 shares of the company’s stock, valued at $3,123,037.50. The trade was a 32.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Ryan Nicholson sold 7,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the completion of the sale, the chief accounting officer now directly owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. This represents a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,121 shares of company stock valued at $5,501,324 over the last three months. 38.39% of the stock is 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.