Dolby Laboratories, Inc. (NYSE:DLB) Shares Acquired by Willis Investment Counsel

Willis Investment Counsel boosted its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,157 shares of the electronics maker’s stock after purchasing an additional 206 shares during the period. Willis Investment Counsel’s holdings in Dolby Laboratories were worth $481,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DLB. Harbor Capital Advisors Inc. grew its stake in shares of Dolby Laboratories by 5.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock valued at $201,000 after acquiring an additional 136 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after buying an additional 146 shares in the last quarter. Fifth Third Bancorp raised its stake in Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after buying an additional 163 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in Dolby Laboratories by 3.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,376 shares of the electronics maker’s stock worth $411,000 after buying an additional 182 shares during the last quarter. Finally, Diversified Investment Strategies LLC grew its position in shares of Dolby Laboratories by 0.3% in the 4th quarter. Diversified Investment Strategies LLC now owns 59,395 shares of the electronics maker’s stock worth $4,639,000 after acquiring an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.54, for a total transaction of $4,027,000.00. Following the completion of the transaction, the chief executive officer now directly owns 83,721 shares in the company, valued at approximately $6,742,889.34. The trade was a 37.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Andrew Sherman sold 12,338 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total value of $963,351.04. Following the completion of the sale, the executive vice president now owns 62,397 shares in the company, valued at approximately $4,871,957.76. This represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,917 shares of company stock valued at $10,877,739 in the last ninety days. Company insiders own 38.39% of the company’s stock.

Analyst Upgrades and Downgrades

DLB has been the topic of several research reports. Barrington Research reissued an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Monday, January 27th. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday.

Dolby Laboratories Trading Down 4.2 %

Shares of NYSE DLB opened at $83.63 on Monday. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 30.75 and a beta of 0.98. The stock’s 50 day simple moving average is $79.35 and its 200 day simple moving average is $75.69. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.58%. 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.