Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Dolby Laboratories, Inc. (NYSE:DLB)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Dolby Laboratories, Inc. (NYSE:DLB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,258 shares of the electronics maker’s stock, valued at approximately $645,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of DLB. Geode Capital Management LLC raised its stake in shares of 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 worth $117,767,000 after acquiring an additional 63,293 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in Dolby Laboratories by 5.8% during the third quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock valued at $21,771,000 after purchasing an additional 15,546 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Dolby Laboratories by 10,441,900.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after purchasing an additional 104,419 shares during the period. Barclays PLC boosted its holdings in shares of Dolby Laboratories by 80.5% in the third quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock valued at $2,544,000 after buying an additional 14,825 shares during the period. Finally, Algert Global LLC boosted its holdings in shares of Dolby Laboratories by 52.0% in the third quarter. Algert Global LLC now owns 48,822 shares of the electronics maker’s stock valued at $3,736,000 after buying an additional 16,700 shares during the period. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Price Performance

Shares of NYSE DLB opened at $80.94 on Friday. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The company has a 50 day simple moving average of $82.16 and a 200 day simple moving average of $77.79. The firm has a market cap of $7.72 billion, a PE ratio of 29.76 and a beta of 1.01.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is 48.53%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DLB shares. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 30th. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Barrington Research restated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, February 13th.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the transaction, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at $5,296,257.36. The trade was a 39.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the transaction, the chief accounting officer now directly owns 29,758 shares in the company, valued at $2,501,755.06. This represents a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,121 shares of company stock valued at $5,501,324 in the last quarter. 38.39% of the stock is currently owned by company insiders.

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.