LPL Financial LLC Lowers Position in Dolby Laboratories, Inc. (NYSE:DLB)

LPL Financial LLC lowered its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 2.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,076 shares of the electronics maker’s stock after selling 537 shares during the quarter. LPL Financial LLC’s holdings in Dolby Laboratories were worth $2,037,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of DLB. Bank of New York Mellon Corp grew its holdings in Dolby Laboratories by 64.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock valued at $376,948,000 after purchasing an additional 1,887,518 shares during the period. 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 valued at $117,767,000 after purchasing an additional 63,293 shares in the last quarter. Boston Trust Walden Corp boosted its stake in Dolby Laboratories by 0.9% in the fourth quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker’s stock worth $84,715,000 after buying an additional 9,624 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Dolby Laboratories by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 742,639 shares of the electronics maker’s stock valued at $58,000,000 after purchasing an additional 25,047 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in shares of Dolby Laboratories by 5.8% in 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 period. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

NYSE:DLB opened at $73.99 on Wednesday. The business has a fifty day moving average price of $80.05 and a 200-day moving average price of $78.39. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 27.20 and a beta of 0.94. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.78%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Insiders Place Their Bets

In other 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 transaction of $1,517,633.75. Following the transaction, the chief marketing officer now owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the completion of the sale, the executive vice president now owns 62,397 shares of the company’s stock, valued at $5,296,257.36. This trade represents a 39.06 % 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 worth $5,501,324. Corporate insiders own 38.39% of the company’s stock.

Wall Street Analyst Weigh In

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

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.