Jane Street Group LLC Sells 39,358 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Jane Street Group LLC lessened its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 86.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 6,272 shares of the electronics maker’s stock after selling 39,358 shares during the quarter. Jane Street Group LLC’s holdings in Dolby Laboratories were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of DLB. Natixis Advisors LLC boosted its position in Dolby Laboratories by 2.7% in the second quarter. Natixis Advisors LLC now owns 23,398 shares of the electronics maker’s stock worth $1,854,000 after purchasing an additional 611 shares during the last quarter. Arizona State Retirement System increased its position in shares of Dolby Laboratories by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 16,655 shares of the electronics maker’s stock valued at $1,320,000 after purchasing an additional 423 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Dolby Laboratories by 39.8% during the 2nd quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock worth $51,698,000 after purchasing an additional 185,884 shares during the period. Quest Partners LLC purchased a new position in shares of Dolby Laboratories in the 2nd quarter worth about $973,000. Finally, Prudential PLC grew its position in 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 buying an additional 193 shares during the period. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Trading Down 0.3 %

DLB opened at $77.93 on Tuesday. The company has a 50 day moving average of $77.23 and a 200 day moving average of $75.60. The company has a market cap of $7.44 billion, a PE ratio of 28.76 and a beta of 0.98. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $86.37.

Dolby Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.69%. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.71%.

Wall Street Analyst Weigh In

Several brokerages have commented on DLB. Rosenblatt Securities lifted their price objective on shares of Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Wednesday, November 20th. Finally, StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th.

Insider Buying and Selling at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 28,512 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were 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 approximately $6,205,400.52. This trade represents a 25.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark Andrew Sherman sold 12,338 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total transaction of $963,351.04. Following the sale, the executive vice president now owns 62,397 shares in the company, valued at approximately $4,871,957.76. This trade represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,429 shares of company stock valued at $12,991,048 in the last three months. Company insiders own 38.39% of the company’s stock.

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.