AIMZ Investment Advisors LLC Reduces Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

AIMZ Investment Advisors LLC cut its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 0.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 32,165 shares of the electronics maker’s stock after selling 298 shares during the quarter. AIMZ Investment Advisors LLC’s holdings in Dolby Laboratories were worth $2,512,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fifth Third Bancorp grew its holdings in Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after buying an additional 163 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Dolby Laboratories by 436.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 301 shares during the period. Mather Group LLC. grew its stake in Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after acquiring an additional 142 shares in the last quarter. GAMMA Investing LLC increased its holdings in Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after acquiring an additional 525 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after acquiring an additional 146 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Price Performance

Shares of NYSE:DLB opened at $81.03 on Friday. The company’s fifty day moving average price is $80.90 and its 200-day moving average price is $76.61. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 29.79 and a beta of 0.98. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66.

Dolby Laboratories Announces Dividend

The company 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 of this dividend was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.63%. Dolby Laboratories’s payout ratio is 48.53%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction that occurred 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 approximately $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Todd Pendleton sold 18,121 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the sale, the chief marketing officer now owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,459 shares of company stock worth $6,464,675 over the last 90 days. Corporate insiders own 38.39% of the company’s stock.

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.