B. Riley Wealth Advisors Inc. Sells 945 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

B. Riley Wealth Advisors Inc. reduced its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 26.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,632 shares of the electronics maker’s stock after selling 945 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Dolby Laboratories were worth $200,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Boston Trust Walden Corp raised its stake in shares of Dolby Laboratories by 185.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after purchasing an additional 698,283 shares during the period. Clifford Capital Partners LLC grew its holdings in shares of Dolby Laboratories by 3,114.7% during the third quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after buying an additional 262,162 shares in the last quarter. Acadian Asset Management LLC raised its position in Dolby Laboratories by 39.8% in the 2nd quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock valued at $51,698,000 after buying an additional 185,884 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Dolby Laboratories by 27.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock valued at $62,817,000 after buying an additional 168,744 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Dolby Laboratories by 16.2% in the 2nd quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker’s stock valued at $49,690,000 after acquiring an additional 87,298 shares in the last quarter. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Stock Down 0.2 %

Shares of Dolby Laboratories stock opened at $77.29 on Monday. The stock has a market cap of $7.38 billion, a P/E ratio of 28.52 and a beta of 0.98. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $87.12. The business’s 50 day moving average is $76.23 and its 200-day moving average is $75.69.

Dolby Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.33 per share. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.71%. The ex-dividend date was Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio is 48.71%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com upgraded shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Rosenblatt Securities lifted their price target on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Barrington Research restated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Wednesday, November 20th.

Insider Buying and Selling at Dolby Laboratories

In other news, SVP John D. Couling sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.50, for a total value of $563,500.00. Following the completion of the sale, the senior vice president now directly owns 106,806 shares of the company’s stock, valued at $8,597,883. This trade represents a 6.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kevin J. Yeaman sold 50,000 shares of Dolby Laboratories stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.54, for a total value of $4,027,000.00. Following the transaction, the chief executive officer now owns 83,721 shares of the company’s stock, valued at $6,742,889.34. This represents a 37.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,429 shares of company stock worth $12,991,048 over the last quarter. 39.54% of the stock is currently owned by insiders.

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.