Entropy Technologies LP Acquires New Shares in Dolby Laboratories, Inc. (NYSE:DLB)

Entropy Technologies LP bought a new position in Dolby Laboratories, Inc. (NYSE:DLB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 16,232 shares of the electronics maker’s stock, valued at approximately $1,268,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Millennium Management LLC grew its stake in shares of Dolby Laboratories by 177.6% in the second quarter. Millennium Management LLC now owns 48,415 shares of the electronics maker’s stock worth $3,836,000 after acquiring an additional 30,977 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Dolby Laboratories during the 2nd quarter valued at $146,000. CWM LLC raised its stake in Dolby Laboratories by 27.9% during the 3rd quarter. CWM LLC now owns 3,978 shares of the electronics maker’s stock valued at $304,000 after buying an additional 868 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Dolby Laboratories by 12.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,506 shares of the electronics maker’s stock valued at $1,340,000 after buying an additional 1,957 shares during the period. Finally, Willis Investment Counsel boosted its stake in shares of Dolby Laboratories by 5.9% in the 3rd quarter. Willis Investment Counsel now owns 5,951 shares of the electronics maker’s stock worth $455,000 after buying an additional 330 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on DLB shares. Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Monday, January 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st.

Dolby Laboratories Price Performance

NYSE:DLB opened at $84.50 on Tuesday. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 31.07 and a beta of 0.98. The business has a fifty day moving average price of $79.95 and a 200-day moving average price of $75.91. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is currently 48.53%.

Insider Activity

In other news, CEO Kevin J. Yeaman sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.54, for a total transaction of $4,027,000.00. Following the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at $6,742,889.34. This trade represents a 37.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John D. Couling sold 7,000 shares of the company’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 directly owns 106,806 shares of the company’s stock, valued at $8,597,883. This represents a 6.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,917 shares of company stock valued at $14,861,429 in the last ninety days. Corporate insiders own 38.39% of the company’s stock.

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.