Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Sepio Capital LP

Sepio Capital LP trimmed its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 38.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,785 shares of the electronics maker’s stock after selling 6,636 shares during the period. Sepio Capital LP’s holdings in Dolby Laboratories were worth $842,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in Dolby Laboratories by 64.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock worth $376,948,000 after acquiring an additional 1,887,518 shares during the last quarter. Norges Bank acquired a new stake in Dolby Laboratories during the 4th quarter worth approximately $55,356,000. ExodusPoint Capital Management LP acquired a new stake in Dolby Laboratories during the 4th quarter worth approximately $11,459,000. Allspring Global Investments Holdings LLC raised its holdings in Dolby Laboratories by 10,441,900.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after buying an additional 104,419 shares during the period. Finally, Vanguard Group Inc. lifted its position in Dolby Laboratories by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker’s stock valued at $549,325,000 after buying an additional 68,771 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DLB. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, Barrington Research restated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th.

Dolby Laboratories Stock Down 6.6 %

Shares of NYSE:DLB opened at $72.54 on Monday. The company has a 50 day moving average of $82.03 and a two-hundred day moving average of $78.56. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The company has a market capitalization of $6.92 billion, a price-to-earnings ratio of 26.67 and a beta of 0.94.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is 48.53%.

Insider Buying and Selling

In other news, CMO Todd Pendleton sold 18,121 shares of Dolby Laboratories stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the sale, the chief marketing officer now directly owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. The trade was a 32.70 % 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, EVP Mark Andrew Sherman sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value of $3,395,200.00. Following the completion of the transaction, the executive vice president now owns 62,397 shares in the company, valued at approximately $5,296,257.36. This trade represents a 39.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,121 shares of company stock valued at $5,501,324 in the last quarter. Company insiders own 38.39% of the company’s stock.

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.