Dolby Laboratories, Inc. (NYSE:DLB) Stock Holdings Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 255,534 shares of the electronics maker’s stock after selling 8,086 shares during the period. JPMorgan Chase & Co. owned about 0.27% of Dolby Laboratories worth $19,957,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp raised its position in shares of Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 163 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Dolby Laboratories by 436.2% during the fourth 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. raised its holdings in shares of Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after purchasing an additional 142 shares during the period. GAMMA Investing LLC raised its holdings in shares of 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 purchasing an additional 525 shares during the period. Finally, Wealthfront Advisers LLC bought a new position in shares of Dolby Laboratories in the 4th quarter worth about $94,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

Shares of DLB stock opened at $72.61 on Friday. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 26.70 and a beta of 0.94. The business has a 50 day simple moving average of $80.68 and a 200 day simple moving average of $78.42.

Dolby Laboratories Announces Dividend

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

Insider Transactions at Dolby Laboratories

In related news, CMO Todd Pendleton sold 18,121 shares of Dolby Laboratories stock in a transaction dated 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 directly owns 37,290 shares of the company’s stock, valued at $3,123,037.50. The trade was a 32.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 65,121 shares of company stock valued at $5,501,324. Company insiders own 38.39% of the company’s stock.

Analyst Ratings Changes

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

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.