Stifel Financial Corp Has $4.01 Million Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Stifel Financial Corp decreased its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 76.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,386 shares of the electronics maker’s stock after selling 171,221 shares during the quarter. Stifel Financial Corp owned approximately 0.05% of Dolby Laboratories worth $4,009,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of DLB. LRI Investments LLC raised its holdings in shares of Dolby Laboratories by 6.0% in the second quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock valued at $182,000 after buying an additional 130 shares during the last quarter. First Horizon Advisors Inc. raised its stake 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 worth $60,000 after acquiring an additional 146 shares during the last quarter. Signaturefd LLC lifted its position in shares of Dolby Laboratories by 5.1% during the second quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock worth $251,000 after purchasing an additional 153 shares in the last quarter. Glenmede Trust Co. NA grew its stake in shares of Dolby Laboratories by 3.5% during the third quarter. Glenmede Trust Co. NA now owns 5,376 shares of the electronics maker’s stock valued at $411,000 after purchasing an additional 182 shares during the last quarter. Finally, Prudential PLC grew its stake in shares of Dolby Laboratories by 0.8% during the second quarter. Prudential PLC now owns 24,078 shares of the electronics maker’s stock valued at $1,908,000 after purchasing an additional 193 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 50,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.54, for a total value of $4,027,000.00. Following the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at approximately $6,742,889.34. This trade represents a 37.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 transaction of $841,890.00. Following the transaction, the chief accounting officer now directly owns 24,364 shares in the company, valued at approximately $1,953,505.52. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,091 shares of company stock valued at $12,027,697. 39.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DLB has been the topic of several research reports. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Wednesday, November 20th. StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Finally, Rosenblatt Securities boosted their price objective on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock opened at $79.18 on Monday. The firm has a fifty day moving average of $75.86 and a two-hundred day moving average of $75.76. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of 29.22 and a beta of 0.98. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.28.

Dolby Laboratories Increases Dividend

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

Dolby Laboratories Company Profile

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.