Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 14.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,431 shares of the electronics maker’s stock after selling 67,398 shares during the quarter. Alliancebernstein L.P. owned about 0.41% of Dolby Laboratories worth $30,883,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DLB. Savant Capital LLC grew its stake in shares of Dolby Laboratories by 2.0% during the 4th quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker’s stock worth $490,000 after purchasing an additional 125 shares during the period. Orion Portfolio Solutions LLC increased its holdings in Dolby Laboratories by 0.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker’s stock valued at $1,525,000 after buying an additional 132 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Dolby Laboratories by 5.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock valued at $201,000 after acquiring an additional 136 shares during the period. Mather Group LLC. boosted its stake in shares of Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after acquiring an additional 142 shares in the last quarter. Finally, Naples Global Advisors LLC grew its holdings in shares of Dolby Laboratories by 0.4% in the 4th quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker’s stock worth $2,791,000 after acquiring an additional 160 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of NYSE:DLB opened at $72.54 on Monday. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66. The stock has a market cap of $6.92 billion, a PE ratio of 26.67 and a beta of 0.94. The business’s fifty day moving average price is $82.03 and its two-hundred day moving average price is $78.56.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, CMO Todd Pendleton sold 18,121 shares of the business’s stock in a transaction 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 completion of the transaction, the chief marketing officer now directly 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 sale 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 stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total value of $588,490.00. Following the transaction, the chief accounting officer now directly owns 29,758 shares in the company, valued at approximately $2,501,755.06. This represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is owned by insiders.

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.