Fiera Capital Corp Lowers Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Fiera Capital Corp lessened its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 2.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 537,376 shares of the electronics maker’s stock after selling 13,719 shares during the quarter. Fiera Capital Corp’s holdings in Dolby Laboratories were worth $41,969,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, CAO Ryan Nicholson sold 10,500 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total value of $841,890.00. Following the sale, the chief accounting officer now directly owns 24,364 shares in the company, valued at approximately $1,953,505.52. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Gotcher sold 6,079 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the transaction, the director now owns 37,593 shares of the company’s stock, valued at approximately $2,968,343.28. This represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,917 shares of company stock valued at $14,861,429. Insiders own 38.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barrington Research restated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Monday, January 27th. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock opened at $83.00 on Thursday. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The company’s 50 day moving average price is $80.07 and its 200-day moving average price is $76.00. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 30.51 and a beta of 0.98.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Tuesday, February 11th. Dolby Laboratories’s payout ratio is 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.