Dolby Laboratories, Inc. (NYSE:DLB) Stock Position Increased by Clifford Capital Partners LLC

Clifford Capital Partners LLC raised its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 3,114.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 270,579 shares of the electronics maker’s stock after acquiring an additional 262,162 shares during the period. Dolby Laboratories makes up about 4.1% of Clifford Capital Partners LLC’s investment portfolio, making the stock its largest position. Clifford Capital Partners LLC owned 0.28% of Dolby Laboratories worth $20,707,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Dolby Laboratories by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,160 shares of the electronics maker’s stock valued at $4,538,000 after purchasing an additional 855 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Dolby Laboratories by 41.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 5,363 shares of the electronics maker’s stock valued at $425,000 after purchasing an additional 1,569 shares during the period. Tidal Investments LLC raised its position in Dolby Laboratories by 53.9% during the 1st quarter. Tidal Investments LLC now owns 10,493 shares of the electronics maker’s stock valued at $879,000 after purchasing an additional 3,673 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Dolby Laboratories in the 1st quarter worth $178,000. Finally, Cetera Advisors LLC bought a new position in shares of Dolby Laboratories during the 1st quarter worth $225,000. 58.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the transaction, the chief executive officer now directly owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. This trade represents a 25.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John D. Couling sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.50, for a total value of $563,500.00. Following the sale, the senior vice president now owns 106,806 shares of the company’s stock, valued at $8,597,883. The trade was a 6.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,591 shares of company stock valued at $7,158,807 in the last quarter. 39.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DLB. Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Wednesday, November 20th. Rosenblatt Securities upped their price objective on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, StockNews.com lowered Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday.

Dolby Laboratories Stock Up 0.0 %

Dolby Laboratories stock opened at $80.33 on Wednesday. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06. The stock has a 50-day moving average price of $74.50 and a 200 day moving average price of $75.96. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 29.64 and a beta of 0.98.

Dolby Laboratories declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the electronics maker to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Dolby Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.64%. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s dividend payout ratio (DPR) is presently 44.28%.

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.