Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors lessened its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 11.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 23,776 shares of the electronics maker’s stock after selling 3,089 shares during the period. Captrust Financial Advisors’ holdings in Dolby Laboratories were worth $1,820,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Trust Walden Corp raised its position in shares of Dolby Laboratories by 3.1% during the 2nd quarter. Boston Trust Walden Corp now owns 376,793 shares of the electronics maker’s stock worth $29,853,000 after acquiring an additional 11,177 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Dolby Laboratories during the 2nd quarter worth about $3,348,000. Pacer Advisors Inc. raised its position in shares of Dolby Laboratories by 47.5% during the 2nd quarter. Pacer Advisors Inc. now owns 23,320 shares of the electronics maker’s stock worth $1,848,000 after acquiring an additional 7,509 shares in the last quarter. Algert Global LLC raised its position in shares of Dolby Laboratories by 52.0% during the 3rd quarter. Algert Global LLC now owns 48,822 shares of the electronics maker’s stock worth $3,736,000 after acquiring an additional 16,700 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Dolby Laboratories during the 2nd quarter worth approximately $1,157,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Trading Down 0.2 %

Shares of DLB stock opened at $79.15 on Friday. The business’s 50 day moving average is $75.51 and its two-hundred day moving average is $75.83. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $90.06. The company has a market capitalization of $7.55 billion, a P/E ratio of 29.21 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd will be paid a $0.33 dividend. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio (DPR) is 48.71%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total value of $2,113,309.44. Following the transaction, the chief executive officer now directly owns 83,721 shares in the company, valued at approximately $6,205,400.52. This trade represents a 25.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the completion of the transaction, the director now owns 37,593 shares in the company, valued at $2,968,343.28. This trade represents a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,091 shares of company stock worth $12,027,697. 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.