Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Horizon Investments LLC

Horizon Investments LLC cut its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 16.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,046 shares of the electronics maker’s stock after selling 200 shares during the period. Horizon Investments LLC’s holdings in Dolby Laboratories were worth $82,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DLB. Bank of New York Mellon Corp boosted its position 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 buying an additional 1,887,518 shares during the period. Clifford Capital Partners LLC lifted its position in Dolby Laboratories by 3,114.7% in the third quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after purchasing an additional 262,162 shares during the period. Allspring Global Investments Holdings LLC lifted its position 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 worth $8,123,000 after purchasing an additional 104,419 shares during the period. Thrivent Financial for Lutherans lifted 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 purchasing an additional 85,093 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its position in Dolby Laboratories by 4.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after purchasing an additional 63,589 shares during the period. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Stock Performance

Shares of NYSE:DLB opened at $81.88 on Friday. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66. The stock has a fifty day moving average of $82.07 and a 200-day moving average of $77.72. The company has a market capitalization of $7.81 billion, a PE ratio of 30.10 and a beta of 1.01.

Dolby Laboratories Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DLB shares. Barrington Research restated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, February 13th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, January 30th. Finally, StockNews.com downgraded Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st.

Insider Transactions at Dolby Laboratories

In other news, CMO Todd Pendleton sold 18,121 shares of the company’s 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 transaction, the chief marketing officer now directly owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Andrew Sherman sold 40,000 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was 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 directly owns 62,397 shares in the company, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is owned by insiders.

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.