Venturi Wealth Management LLC Increases Position in Dolby Laboratories, Inc. (NYSE:DLB)

Venturi Wealth Management LLC lifted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 8,415.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,832 shares of the electronics maker’s stock after acquiring an additional 3,787 shares during the period. Venturi Wealth Management LLC’s holdings in Dolby Laboratories were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of DLB. State of New Jersey Common Pension Fund D increased its position in shares of Dolby Laboratories by 6.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 29,603 shares of the electronics maker’s stock valued at $2,312,000 after purchasing an additional 1,693 shares during the last quarter. Rhumbline Advisers grew its position in Dolby Laboratories by 0.5% during the fourth quarter. Rhumbline Advisers now owns 250,121 shares of the electronics maker’s stock valued at $19,534,000 after buying an additional 1,194 shares during the period. Vontobel Holding Ltd. purchased a new stake in Dolby Laboratories during the fourth quarter worth about $1,237,000. Naples Global Advisors LLC raised its position in Dolby Laboratories by 0.4% in the fourth quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker’s stock worth $2,791,000 after acquiring an additional 160 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Dolby Laboratories by 10,441,900.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after acquiring an additional 104,419 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 12,338 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total value of $963,351.04. Following the completion of the transaction, the executive vice president now owns 62,397 shares in the company, valued at $4,871,957.76. This trade represents a 16.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John D. Couling sold 7,000 shares of Dolby Laboratories stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.50, for a total value of $563,500.00. Following the transaction, the senior vice president now directly owns 106,806 shares of the company’s stock, valued at $8,597,883. The trade was a 6.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 126,838 shares of company stock worth $10,379,431. Corporate insiders own 38.39% of the company’s stock.

Dolby Laboratories Stock Down 1.2 %

Shares of NYSE:DLB opened at $82.36 on Friday. The firm has a market capitalization of $7.86 billion, a PE ratio of 30.28 and a beta of 0.98. The company has a 50-day moving average price of $80.56 and a two-hundred day moving average price of $76.25. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66.

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.60%. 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.