Clearbridge Investments LLC Has $91.06 Million Position in Dolby Laboratories, Inc. (NYSE:DLB)

Clearbridge Investments LLC cut its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 30.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,165,919 shares of the electronics maker’s stock after selling 510,611 shares during the quarter. Clearbridge Investments LLC owned approximately 1.22% of Dolby Laboratories worth $91,058,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in DLB. Citigroup Inc. increased its position in Dolby Laboratories by 3.9% in the 3rd quarter. Citigroup Inc. now owns 72,727 shares of the electronics maker’s stock valued at $5,566,000 after acquiring an additional 2,724 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Dolby Laboratories by 27.8% in the third quarter. Bank of Montreal Can now owns 39,350 shares of the electronics maker’s stock valued at $2,975,000 after purchasing an additional 8,562 shares in the last quarter. BNP Paribas Financial Markets raised its position in Dolby Laboratories by 125.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,463 shares of the electronics maker’s stock worth $1,030,000 after purchasing an additional 7,484 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in Dolby Laboratories by 3.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,376 shares of the electronics maker’s stock worth $411,000 after buying an additional 182 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Dolby Laboratories by 14.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,519 shares of the electronics maker’s stock valued at $958,000 after buying an additional 1,596 shares during the last quarter. 58.56% of the stock is owned by institutional investors.

Insider Transactions at Dolby Laboratories

In other 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. This trade represents a 39.06 % decrease in their ownership of the stock. The sale 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 company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the sale, the chief accounting officer now owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. This represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,121 shares of company stock worth $5,501,324. 38.39% of the stock is currently owned by company insiders.

Dolby Laboratories Stock Up 0.5 %

NYSE:DLB opened at $80.32 on Tuesday. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The stock’s fifty day simple moving average is $82.24 and its 200-day simple moving average is $78.39. The firm has a market capitalization of $7.66 billion, a P/E ratio of 29.53 and a beta of 1.01.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is currently 48.53%.

Analyst Ratings Changes

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

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.