Quilter Plc Has $875,000 Position in Dolby Laboratories, Inc. (NYSE:DLB)

Quilter Plc reduced its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 19.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,204 shares of the electronics maker’s stock after selling 2,720 shares during the period. Quilter Plc’s holdings in Dolby Laboratories were worth $875,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp boosted its position in Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock worth $28,000 after buying an additional 163 shares during the period. Nisa Investment Advisors LLC boosted its position in Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after buying an additional 301 shares during the period. Mather Group LLC. boosted its position in Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after buying an additional 142 shares during the period. GAMMA Investing LLC boosted its position in Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after buying an additional 525 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in Dolby Laboratories by 22.7% during 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 currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Monday, January 27th. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th.

Dolby Laboratories Stock Performance

Dolby Laboratories stock opened at $83.81 on Monday. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The firm has a 50 day moving average price of $79.87 and a two-hundred day moving average price of $75.87. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 30.81 and a beta of 0.98.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.57%. Dolby Laboratories’s payout ratio is 48.53%.

Insiders Place Their Bets

In other news, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value 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. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the sale, the chief accounting officer now owns 29,758 shares of the company’s stock, valued at $2,501,755.06. This represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 182,917 shares of company stock worth $14,861,429. 38.39% of the stock is currently owned by insiders.

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.