Bleakley Financial Group LLC Reduces Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Bleakley Financial Group LLC cut its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 35.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,952 shares of the electronics maker’s stock after selling 3,250 shares during the quarter. Bleakley Financial Group LLC’s holdings in Dolby Laboratories were worth $465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DLB. Boston Trust Walden Corp raised its stake in Dolby Laboratories by 185.3% in the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after buying an additional 698,283 shares during the last quarter. Clifford Capital Partners LLC raised its stake in Dolby Laboratories by 3,114.7% in the third quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock valued at $20,707,000 after buying an additional 262,162 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Dolby Laboratories by 496.7% in the third quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock valued at $7,823,000 after buying an additional 85,093 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in Dolby Laboratories by 4.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after buying an additional 63,589 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Dolby Laboratories by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after buying an additional 63,293 shares during the last quarter. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Up 0.8 %

Shares of NYSE:DLB opened at $84.50 on Tuesday. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 31.07 and a beta of 0.98. The business has a 50-day moving average price of $79.95 and a 200-day moving average price of $75.91.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.56%. The ex-dividend date is Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is 48.53%.

Insider Buying and Selling

In related news, EVP Mark Andrew Sherman sold 12,338 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total transaction of $963,351.04. Following the sale, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at $4,871,957.76. This trade represents a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ryan Nicholson sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total value of $588,490.00. Following the sale, the chief accounting officer now directly owns 29,758 shares in the company, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,917 shares of company stock valued at $14,861,429 over the last ninety days. Company insiders own 38.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on DLB. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, January 30th. Barrington Research restated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Monday, January 27th. Finally, StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note 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.