Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lessened its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 38.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,807 shares of the electronics maker’s stock after selling 4,268 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Dolby Laboratories were worth $532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Savant Capital LLC boosted its stake in shares of Dolby Laboratories by 2.0% in the fourth quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker’s stock worth $490,000 after acquiring an additional 125 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Dolby Laboratories by 0.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker’s stock worth $1,525,000 after buying an additional 132 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Dolby Laboratories by 5.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock valued at $201,000 after buying an additional 136 shares during the last quarter. Mather Group LLC. boosted its position in Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after acquiring an additional 142 shares during the last quarter. Finally, Naples Global Advisors LLC grew its stake in Dolby Laboratories by 0.4% during the 4th quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker’s stock valued at $2,791,000 after acquiring an additional 160 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Price Performance

NYSE DLB opened at $72.27 on Thursday. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.66. The stock has a market capitalization of $6.90 billion, a P/E ratio of 26.57 and a beta of 0.94. The firm’s 50-day moving average is $79.81 and its two-hundred day moving average is $78.35.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.83%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.53%.

Insider Buying and Selling at Dolby Laboratories

In other news, CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $5,296,257.36. The trade was a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,121 shares of company stock valued at $5,501,324 over the last quarter. 38.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.