ExodusPoint Capital Management LP Takes Position in Dolby Laboratories, Inc. (NYSE:DLB)

ExodusPoint Capital Management LP acquired a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 146,719 shares of the electronics maker’s stock, valued at approximately $11,459,000.

A number of other large investors also recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in shares of Dolby Laboratories by 125.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,463 shares of the electronics maker’s stock valued at $1,030,000 after acquiring an additional 7,484 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Dolby Laboratories by 14.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,519 shares of the electronics maker’s stock valued at $958,000 after purchasing an additional 1,596 shares during the last quarter. Verition Fund Management LLC bought a new position in Dolby Laboratories in the third quarter worth about $997,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Dolby Laboratories during the third quarter valued at about $739,000. Finally, Quantinno Capital Management LP lifted its position in shares of Dolby Laboratories by 12.2% during the third quarter. Quantinno Capital Management LP now owns 8,592 shares of the electronics maker’s stock valued at $658,000 after buying an additional 932 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Analysts Set New Price Targets

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

Dolby Laboratories Stock Down 6.6 %

Shares of Dolby Laboratories stock opened at $72.54 on Friday. The company has a 50 day moving average price of $82.03 and a 200 day moving average price of $78.47. The firm has a market capitalization of $6.92 billion, a P/E ratio of 26.67 and a beta of 1.01. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66.

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 paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.82%. Dolby Laboratories’s payout ratio is currently 48.53%.

Insider Activity

In related news, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the completion of the sale, the executive vice president now owns 62,397 shares of the company’s stock, valued at $5,296,257.36. The trade was a 39.06 % 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, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 29,758 shares in the company, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,121 shares of company stock valued at $5,501,324 over the last ninety days. 38.39% of the stock is currently owned by 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.