New Age Alpha Advisors LLC Makes New Investment in Dolby Laboratories, Inc. (NYSE:DLB)

New Age Alpha Advisors LLC acquired a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB) in the 4th quarter, Holdings Channel reports. The fund acquired 1,653 shares of the electronics maker’s stock, valued at approximately $129,000.

A number of other large investors have also recently made changes to their positions in DLB. Vanguard Group Inc. lifted its position in Dolby Laboratories by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker’s stock worth $549,325,000 after acquiring an additional 68,771 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Dolby Laboratories by 64.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock worth $376,948,000 after purchasing an additional 1,887,518 shares during the period. State Street Corp boosted its position in Dolby Laboratories by 1.5% in the third quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock valued at $147,824,000 after buying an additional 29,289 shares during the last quarter. Geode Capital Management LLC increased its holdings in Dolby Laboratories by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock worth $117,767,000 after buying an additional 63,293 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its position in Dolby Laboratories by 4.5% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after buying an additional 63,589 shares during the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Performance

DLB opened at $81.25 on Thursday. The company has a fifty day moving average of $82.22 and a two-hundred day moving average of $78.47. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 29.87 and a beta of 1.01.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.62%. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories 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 transaction of $1,517,633.75. Following the transaction, the chief marketing officer now directly owns 37,290 shares of the company’s stock, valued at $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 is accessible through this hyperlink. Also, CAO Ryan Nicholson sold 7,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the sale, the chief accounting officer now directly owns 29,758 shares of the company’s stock, valued at $2,501,755.06. This represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,121 shares of company stock valued at $5,501,324. Company insiders own 38.39% of the company’s stock.

Analysts Set New Price Targets

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

Dolby Laboratories Company Profile

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.