Wealthfront Advisers LLC Makes New $94,000 Investment in Dolby Laboratories, Inc. (NYSE:DLB)

Wealthfront Advisers LLC bought a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,205 shares of the electronics maker’s stock, valued at approximately $94,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Dolby Laboratories by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock worth $117,767,000 after buying an additional 63,293 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in Dolby Laboratories by 5.8% during the third quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock worth $21,771,000 after buying an additional 15,546 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in 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 buying an additional 104,419 shares during the last quarter. Barclays PLC lifted its holdings in shares of Dolby Laboratories by 80.5% during the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock valued at $2,544,000 after purchasing an additional 14,825 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Dolby Laboratories by 52.0% during the 3rd quarter. Algert Global LLC now owns 48,822 shares of the electronics maker’s stock valued at $3,736,000 after purchasing an additional 16,700 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, February 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CMO Todd Pendleton sold 18,121 shares of the business’s stock in a transaction that occurred on 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 sale, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Ryan Nicholson sold 7,000 shares of the business’s stock in a transaction that occurred on 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 owns 29,758 shares in the company, valued at $2,501,755.06. The trade was a 19.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,121 shares of company stock worth $5,501,324. Corporate insiders own 38.39% of the company’s stock.

Dolby Laboratories Stock Performance

NYSE DLB opened at $82.15 on Tuesday. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 30.20 and a beta of 1.01. The stock’s 50 day moving average price is $81.77 and its two-hundred day moving average price is $77.58. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s payout ratio is 48.53%.

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.