Exchange Traded Concepts LLC Has $1.06 Million Position in Dolby Laboratories, Inc. (NYSE:DLB)

Exchange Traded Concepts LLC trimmed its position in Dolby Laboratories, Inc. (NYSE:DLB) by 22.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,526 shares of the electronics maker’s stock after selling 3,980 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Dolby Laboratories were worth $1,056,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DLB. Bank of Montreal Can grew its stake in shares of Dolby Laboratories by 45.0% in the second quarter. Bank of Montreal Can now owns 30,788 shares of the electronics maker’s stock valued at $2,465,000 after acquiring an additional 9,558 shares in the last quarter. Marshall Wace LLP bought a new stake in Dolby Laboratories in the 2nd quarter valued at about $6,131,000. Cubist Systematic Strategies LLC acquired a new position in shares of Dolby Laboratories during the 2nd quarter worth approximately $146,000. Millennium Management LLC increased its holdings in shares of Dolby Laboratories by 177.6% during the second quarter. Millennium Management LLC now owns 48,415 shares of the electronics maker’s stock worth $3,836,000 after purchasing an additional 30,977 shares during the period. Finally, Algert Global LLC acquired a new stake in shares of Dolby Laboratories in the second quarter valued at approximately $2,545,000. Institutional investors own 58.56% of the company’s stock.

Analyst Ratings Changes

DLB has been the topic of a number of analyst reports. StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 4th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, January 23rd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Monday.

Dolby Laboratories Trading Down 0.6 %

NYSE DLB opened at $80.62 on Wednesday. The firm’s 50 day simple moving average is $79.18 and its 200 day simple moving average is $75.62. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 29.75 and a beta of 0.98. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $85.30.

Dolby Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd were given a dividend of $0.33 per share. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio is currently 48.71%.

Insider Activity

In other Dolby Laboratories news, SVP John D. Couling sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the sale, the senior vice president now directly owns 106,806 shares of the company’s stock, valued at $8,548,752.24. The trade was a 31.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ryan Nicholson sold 10,500 shares of the company’s 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 owns 24,364 shares of the company’s stock, valued at approximately $1,953,505.52. This trade represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,917 shares of company stock worth $10,877,739. Corporate insiders own 38.39% of the company’s stock.

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.