Cambiar Investors LLC Sells 12,933 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Cambiar Investors LLC reduced its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 9.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 124,067 shares of the electronics maker’s stock after selling 12,933 shares during the period. Cambiar Investors LLC’s holdings in Dolby Laboratories were worth $9,690,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp grew its position in shares of 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 acquiring an additional 163 shares during the period. Nisa Investment Advisors LLC grew its position 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 acquiring an additional 301 shares during the period. Mather Group LLC. grew its position in shares of Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after acquiring an additional 142 shares during the period. GAMMA Investing LLC grew its position in shares of Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock valued at $61,000 after acquiring an additional 525 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after buying an additional 146 shares during the period. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Price Performance

NYSE DLB opened at $84.50 on Tuesday. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The stock has a market capitalization of $8.07 billion, a PE ratio of 31.07 and a beta of 0.98. The company’s 50 day simple moving average is $79.95 and its two-hundred day simple moving average is $75.91.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.56%. The ex-dividend date is Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

Analyst Ratings Changes

Several research firms recently commented on DLB. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Monday, January 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th.

Insiders Place Their Bets

In other Dolby Laboratories news, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the sale, the chief accounting officer now directly owns 29,758 shares in the company, valued at $2,501,755.06. This represents a 19.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Gotcher sold 6,079 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $78.96, for a total transaction of $479,997.84. Following the completion of the sale, the director now owns 37,593 shares in the company, valued at $2,968,343.28. This represents a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,917 shares of company stock worth $14,861,429 in the last three months. 38.39% of the stock is currently owned by corporate insiders.

Dolby Laboratories 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.