MML Investors Services LLC Reduces Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

MML Investors Services LLC reduced its position in Dolby Laboratories, Inc. (NYSE:DLB) by 68.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,784 shares of the electronics maker’s stock after selling 6,105 shares during the period. MML Investors Services LLC’s holdings in Dolby Laboratories were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. grew its stake in Dolby Laboratories by 192.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock valued at $46,000 after buying an additional 379 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Dolby Laboratories during the 2nd quarter valued at $3,348,000. Crossmark Global Holdings Inc. raised its stake in shares of Dolby Laboratories by 135.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 16,213 shares of the electronics maker’s stock valued at $1,284,000 after purchasing an additional 9,332 shares during the period. Signaturefd LLC lifted its holdings in Dolby Laboratories by 5.1% during the 2nd 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. Finally, Van ECK Associates Corp boosted its stake in Dolby Laboratories by 18.8% in the 2nd quarter. Van ECK Associates Corp now owns 24,914 shares of the electronics maker’s stock worth $1,974,000 after purchasing an additional 3,945 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock opened at $78.59 on Friday. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $87.12. The business’s 50 day simple moving average is $76.56 and its two-hundred day simple moving average is $75.68. The stock has a market capitalization of $7.50 billion, a P/E ratio of 29.00 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors 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 yield of 1.68%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s payout ratio is 48.71%.

Insider Buying and Selling at Dolby Laboratories

In other news, CAO Ryan Nicholson sold 10,500 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total transaction of $841,890.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,364 shares in the company, valued at approximately $1,953,505.52. This trade represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total value of $963,351.04. Following the transaction, the executive vice president now owns 62,397 shares of the company’s stock, valued at $4,871,957.76. The trade was a 16.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 164,429 shares of company stock valued at $12,991,048. 39.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DLB has been the subject of several recent analyst reports. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities boosted their target price on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Barrington Research restated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Wednesday, November 20th.

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.