Twin Tree Management LP Acquires Shares of 8,473 Dolby Laboratories, Inc. (NYSE:DLB)

Twin Tree Management LP bought a new position in Dolby Laboratories, Inc. (NYSE:DLB) in the 4th quarter, Holdings Channel.com reports. The fund bought 8,473 shares of the electronics maker’s stock, valued at approximately $662,000.

Several other large investors also recently added to or reduced their stakes in DLB. Victory Capital Management Inc. grew its position in Dolby Laboratories by 18.5% in the third quarter. Victory Capital Management Inc. now owns 14,665 shares of the electronics maker’s stock worth $1,122,000 after acquiring an additional 2,288 shares in the last quarter. Empowered Funds LLC grew its position in Dolby Laboratories by 21.8% in the third quarter. Empowered Funds LLC now owns 7,528 shares of the electronics maker’s stock worth $576,000 after acquiring an additional 1,348 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Dolby Laboratories by 496.7% in the third quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock worth $7,823,000 after acquiring an additional 85,093 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Dolby Laboratories in the third quarter worth approximately $93,000. Finally, Advisors Asset Management Inc. grew its position in Dolby Laboratories by 26.8% in the third quarter. Advisors Asset Management Inc. now owns 3,560 shares of the electronics maker’s stock worth $272,000 after acquiring an additional 753 shares in the last quarter. 58.56% of the stock is owned by institutional investors.

Insider Buying and Selling at Dolby Laboratories

In other news, CMO Todd Pendleton sold 18,121 shares of the stock in a transaction 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 in the company, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the 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 completion of the transaction, the executive vice president now owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their position. 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 ninety days. Company insiders own 38.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, January 30th. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, February 13th.

Dolby Laboratories Trading Up 0.1 %

NYSE DLB opened at $82.22 on Wednesday. The company has a fifty day simple moving average of $81.86 and a 200 day simple moving average of $77.66. The company has a market cap of $7.85 billion, a P/E ratio of 30.23 and a beta of 1.01. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.53%.

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.