Dolby Laboratories, Inc. (NYSE:DLB) Shares Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management boosted its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 46.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,941 shares of the electronics maker’s stock after purchasing an additional 2,209 shares during the quarter. Picton Mahoney Asset Management’s holdings in Dolby Laboratories were worth $541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Savant Capital LLC boosted its holdings in Dolby Laboratories by 2.0% in the fourth quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker’s stock valued at $490,000 after purchasing an additional 125 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Dolby Laboratories by 5.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock valued at $201,000 after purchasing an additional 136 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after acquiring an additional 142 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after acquiring an additional 146 shares during the period. Finally, Naples Global Advisors LLC boosted its holdings in shares of Dolby Laboratories by 0.4% in the fourth quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker’s stock valued at $2,791,000 after acquiring an additional 160 shares during the period. 58.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value of $3,395,200.00. Following the completion of the transaction, the executive vice president now owns 62,397 shares in the company, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ryan Nicholson sold 7,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the completion of the sale, the chief accounting officer now directly owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,459 shares of company stock valued at $6,464,675 over the last three months. 38.39% of the stock is currently owned by company insiders.

Dolby Laboratories Price Performance

Shares of NYSE DLB opened at $81.92 on Friday. The stock has a fifty day moving average price of $81.69 and a 200 day moving average price of $77.45. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The company has a market cap of $7.82 billion, a PE ratio of 30.12 and a beta of 1.01.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

Wall Street Analyst Weigh In

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

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.