Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Sepio Capital LP

Sepio Capital LP cut its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 38.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,785 shares of the electronics maker’s stock after selling 6,636 shares during the quarter. Sepio Capital LP’s holdings in Dolby Laboratories were worth $842,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DLB. Bank of New York Mellon Corp raised its holdings 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 purchasing an additional 1,887,518 shares during the period. Norges Bank bought a new stake in shares of Dolby Laboratories during the 4th quarter valued at about $55,356,000. ExodusPoint Capital Management LP acquired a new stake in Dolby Laboratories during the fourth quarter worth about $11,459,000. Allspring Global Investments Holdings LLC lifted its holdings 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 acquiring an additional 104,419 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Dolby Laboratories by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker’s stock valued at $549,325,000 after acquiring an additional 68,771 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Trading Down 6.6 %

Shares of NYSE:DLB opened at $72.54 on Monday. The firm’s 50 day moving average is $82.03 and its two-hundred day moving average is $78.56. The firm has a market capitalization of $6.92 billion, a P/E ratio of 26.67 and a beta of 0.94. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66.

Dolby Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.82%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DLB. 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. StockNews.com lowered Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Barrington Research reissued an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, February 13th.

Insider Buying and Selling at Dolby Laboratories

In related news, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the completion of the transaction, the chief accounting officer now owns 29,758 shares in the company, valued at $2,501,755.06. This represents a 19.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark Andrew Sherman sold 40,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now 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. Insiders have sold 65,121 shares of company stock valued at $5,501,324 in the last quarter. 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.