Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Empower Advisory Group LLC

Empower Advisory Group LLC lowered its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,182 shares of the electronics maker’s stock after selling 300 shares during the quarter. Empower Advisory Group LLC’s holdings in Dolby Laboratories were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Creative Planning lifted its stake in Dolby Laboratories by 7.5% during the third quarter. Creative Planning now owns 4,094 shares of the electronics maker’s stock worth $313,000 after purchasing an additional 286 shares during the last quarter. Blue Trust Inc. lifted its stake in Dolby Laboratories by 234.3% during the third quarter. Blue Trust Inc. now owns 1,384 shares of the electronics maker’s stock worth $110,000 after purchasing an additional 970 shares during the last quarter. International Assets Investment Management LLC bought a new position in Dolby Laboratories during the third quarter worth $3,895,000. Hennion & Walsh Asset Management Inc. lifted its stake in Dolby Laboratories by 28.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 14,442 shares of the electronics maker’s stock worth $1,105,000 after purchasing an additional 3,227 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Dolby Laboratories by 135.2% during the third quarter. Assenagon Asset Management S.A. now owns 104,039 shares of the electronics maker’s stock worth $7,962,000 after purchasing an additional 59,810 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CAO Ryan Nicholson sold 7,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total value of $588,490.00. Following the sale, the chief accounting officer now directly owns 29,758 shares in the company, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction dated 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 sale, the executive vice president now owns 62,397 shares in the company, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,838 shares of company stock worth $14,381,431. 38.39% of the stock is owned by insiders.

Dolby Laboratories Stock Performance

DLB stock opened at $83.27 on Thursday. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 30.61 and a beta of 0.98. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The stock’s fifty day moving average is $80.52 and its two-hundred day moving average is $76.21.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s payout ratio is 48.53%.

Analyst Ratings Changes

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