Atria Investments Inc Has $354,000 Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Atria Investments Inc reduced its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 85.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,620 shares of the electronics maker’s stock after selling 27,312 shares during the period. Atria Investments Inc’s holdings in Dolby Laboratories were worth $354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DLB. Vanguard Group Inc. increased its holdings in Dolby Laboratories by 1.7% during the first quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock worth $544,711,000 after buying an additional 107,713 shares during the last quarter. Boston Trust Walden Corp raised its holdings in shares of Dolby Laboratories by 3.1% in the 2nd quarter. Boston Trust Walden Corp now owns 376,793 shares of the electronics maker’s stock valued at $29,853,000 after purchasing an additional 11,177 shares during the period. Panagora Asset Management Inc. acquired a new stake in Dolby Laboratories in the 2nd quarter valued at about $3,348,000. Pacer Advisors Inc. grew its holdings in Dolby Laboratories by 47.5% during the second 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 during the period. Finally, SG Americas Securities LLC acquired a new position in Dolby Laboratories during the second quarter worth approximately $1,157,000. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Trading Down 2.0 %

Shares of NYSE:DLB opened at $80.31 on Friday. The stock has a market capitalization of $7.66 billion, a PE ratio of 29.63 and a beta of 0.98. The firm has a 50 day moving average of $74.15 and a 200-day moving average of $76.08. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $90.06.

Dolby Laboratories announced that its Board of Directors has approved a share buyback plan on Wednesday, August 7th that allows the company to buyback $350.00 million in shares. This buyback authorization allows the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Dolby Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.64%. Dolby Laboratories’s payout ratio is 44.28%.

Insider Activity

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the sale, the chief executive officer now owns 83,721 shares in the company, valued at $6,205,400.52. This represents a 25.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 39.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Monday. Rosenblatt Securities upped their price objective on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barrington Research reissued an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Wednesday.

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.