Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 57.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 263,620 shares of the electronics maker’s stock after selling 353,110 shares during the period. JPMorgan Chase & Co.’s holdings in Dolby Laboratories were worth $20,175,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Point72 Hong Kong Ltd acquired a new position in Dolby Laboratories in the 2nd quarter valued at about $37,000. First Horizon Advisors Inc. grew its holdings in shares of Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after buying an additional 146 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Dolby Laboratories during the third quarter worth about $93,000. Blue Trust Inc. raised its position in shares of Dolby Laboratories by 234.3% in the third quarter. Blue Trust Inc. now owns 1,384 shares of the electronics maker’s stock valued at $110,000 after buying an additional 970 shares during the last quarter. Finally, Icon Wealth Advisors LLC lifted its stake in shares of Dolby Laboratories by 14.0% during the third quarter. Icon Wealth Advisors LLC now owns 1,717 shares of the electronics maker’s stock valued at $131,000 after buying an additional 211 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories 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 value of $963,351.04. Following the transaction, 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 document filed with the SEC, which is available through this hyperlink. Also, SVP John D. Couling sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $80.04, for a total value of $4,002,000.00. Following the transaction, the senior vice president now directly owns 106,806 shares in the company, valued at $8,548,752.24. This trade represents a 31.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,429 shares of company stock worth $12,991,048 in the last ninety days. Insiders own 38.39% of the company’s stock.

Dolby Laboratories Stock Performance

DLB opened at $77.11 on Friday. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $86.37. The company’s 50 day simple moving average is $77.47 and its 200 day simple moving average is $75.60. The stock has a market capitalization of $7.36 billion, a PE ratio of 28.45 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 3rd. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.71%. Dolby Laboratories’s 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.