Y Intercept Hong Kong Ltd Invests $246,000 in Dolby Laboratories, Inc. (NYSE:DLB)

Y Intercept Hong Kong Ltd bought a new stake in Dolby Laboratories, Inc. (NYSE:DLB) in the 4th quarter, Holdings Channel reports. The firm bought 3,155 shares of the electronics maker’s stock, valued at approximately $246,000.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp lifted its stake in Dolby Laboratories by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 163 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 301 shares during the last quarter. Mather Group LLC. lifted its stake in Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 142 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after purchasing an additional 146 shares during the period. Finally, GAMMA Investing LLC increased its position in Dolby Laboratories by 207.5% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after buying an additional 525 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Dolby Laboratories Stock Performance

NYSE:DLB opened at $80.56 on Wednesday. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66. The firm’s 50-day simple moving average is $81.10 and its 200 day simple moving average is $76.94. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 29.62 and a beta of 0.98.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were given a $0.33 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.64%. Dolby Laboratories’s payout ratio is 48.53%.

Insider Activity at Dolby Laboratories

In related news, 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 of the company’s stock, valued at $5,296,257.36. The trade was a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the sale, the chief accounting officer now owns 29,758 shares in the company, valued at $2,501,755.06. The trade was 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 77,459 shares of company stock worth $6,464,675. Company 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.