Xponance Inc. Buys 525 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Xponance Inc. grew its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 8,690 shares of the electronics maker’s stock after buying an additional 525 shares during the period. Xponance Inc.’s holdings in Dolby Laboratories were worth $679,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its position 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 acquiring an additional 63,293 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Dolby Laboratories by 5.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock valued at $21,771,000 after purchasing an additional 15,546 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Dolby Laboratories by 10,441,900.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after purchasing an additional 104,419 shares during the last quarter. Barclays PLC grew its holdings in Dolby Laboratories by 80.5% during the third quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock worth $2,544,000 after purchasing an additional 14,825 shares during the period. Finally, Algert Global LLC raised its stake in Dolby Laboratories by 52.0% in the third quarter. Algert Global LLC now owns 48,822 shares of the electronics maker’s stock valued at $3,736,000 after buying an additional 16,700 shares during the period. Institutional investors own 58.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, January 30th. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Barrington Research reiterated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, February 13th.

Insider Transactions at Dolby Laboratories

In related news, CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction dated 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 directly owns 37,290 shares of the company’s stock, valued at $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the sale, the executive vice president now directly owns 62,397 shares in the company, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is owned by corporate insiders.

Dolby Laboratories Trading Down 0.1 %

NYSE DLB opened at $81.56 on Wednesday. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 29.99 and a beta of 1.01. The company has a 50 day moving average of $82.26 and a 200-day moving average of $78.07. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.62%. Dolby Laboratories’s payout ratio is 48.53%.

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.