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

Linden Thomas Advisory Services LLC trimmed its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 163 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after buying an additional 301 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after buying an additional 146 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after buying an additional 525 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in shares of Dolby Laboratories during the 3rd quarter worth approximately $93,000. 58.56% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories Price Performance

NYSE DLB opened at $79.67 on Monday. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $85.84. The company has a market capitalization of $7.60 billion, a P/E ratio of 29.40 and a beta of 0.98. The business has a 50 day moving average price of $78.79 and a 200 day moving average price of $75.60.

Dolby Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd were paid a $0.33 dividend. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.71%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Barrington Research reissued an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Wednesday, November 20th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 7,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.50, for a total transaction of $563,500.00. Following the completion of the transaction, the senior vice president now owns 106,806 shares of the company’s stock, valued at approximately $8,597,883. This trade represents a 6.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Ryan Nicholson sold 10,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total value of $841,890.00. Following the transaction, the chief accounting officer now directly owns 24,364 shares of the company’s stock, valued at $1,953,505.52. The trade was a 30.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 135,917 shares of company stock valued at $10,877,739 in the last ninety days. Corporate 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.