Orion Portfolio Solutions LLC Sells 1,100 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Orion Portfolio Solutions LLC lessened its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,390 shares of the electronics maker’s stock after selling 1,100 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Dolby Laboratories were worth $1,484,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Boston Trust Walden Corp raised its stake in 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 buying an additional 11,177 shares during the period. Panagora Asset Management Inc. acquired a new position in shares of Dolby Laboratories during the second quarter worth approximately $3,348,000. Pacer Advisors Inc. lifted its holdings in shares of Dolby Laboratories by 47.5% in the 2nd quarter. Pacer Advisors Inc. now owns 23,320 shares of the electronics maker’s stock worth $1,848,000 after purchasing an additional 7,509 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Dolby Laboratories by 52.0% in the 3rd quarter. Algert Global LLC now owns 48,822 shares of the electronics maker’s stock worth $3,736,000 after purchasing an additional 16,700 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Dolby Laboratories in the 3rd quarter valued at $3,031,000. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in 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 upped their target price on shares of Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Wednesday, November 20th.

Dolby Laboratories Trading Down 1.4 %

NYSE DLB opened at $79.14 on Friday. The business has a fifty day simple moving average of $75.86 and a 200 day simple moving average of $75.80. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.28. The firm has a market capitalization of $7.55 billion, a P/E ratio of 29.20 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.32 annualized dividend and a dividend yield of 1.67%. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s dividend payout ratio is currently 48.71%.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 50,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $80.04, for a total value of $4,002,000.00. Following the completion of the transaction, the senior vice president now owns 106,806 shares in the company, valued at $8,548,752.24. This represents a 31.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ryan Nicholson sold 10,500 shares of Dolby Laboratories stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total value of $841,890.00. Following the sale, the chief accounting officer now owns 24,364 shares in the company, valued at $1,953,505.52. The trade was a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 152,091 shares of company stock valued at $12,027,697 over the last ninety days. Corporate insiders own 39.54% of the company’s stock.

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.