Naples Global Advisors LLC Increases Position in Dolby Laboratories, Inc. (NYSE:DLB)

Naples Global Advisors LLC lifted its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 0.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,730 shares of the electronics maker’s stock after buying an additional 160 shares during the quarter. Naples Global Advisors LLC’s holdings in Dolby Laboratories were worth $2,791,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Boston Trust Walden Corp lifted its position in shares of Dolby Laboratories by 185.3% in the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after acquiring an additional 698,283 shares in the last quarter. Clifford Capital Partners LLC lifted its holdings in Dolby Laboratories by 3,114.7% in the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after purchasing an additional 262,162 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Dolby Laboratories by 10,441,900.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock worth $8,123,000 after purchasing an additional 104,419 shares during the period. Thrivent Financial for Lutherans grew its holdings in Dolby Laboratories by 496.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock valued at $7,823,000 after buying an additional 85,093 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in shares of Dolby Laboratories by 4.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after buying an additional 63,589 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 7,000 shares of the company’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 transaction of $563,500.00. Following the sale, the senior vice president now directly owns 106,806 shares in the company, valued at $8,597,883. This represents a 6.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total value of $963,351.04. Following the completion of the transaction, the executive vice president now owns 62,397 shares of the company’s stock, valued at approximately $4,871,957.76. This trade represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,917 shares of company stock worth $14,861,429 over the last 90 days. 38.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DLB has been the subject of a number of research reports. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, January 30th. Finally, Barrington Research restated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Monday, January 27th.

Dolby Laboratories Price Performance

Shares of DLB opened at $83.00 on Thursday. The business’s 50 day simple moving average is $80.07 and its 200-day simple moving average is $76.00. 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 $7.92 billion, a price-to-earnings ratio of 30.51 and a beta of 0.98.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, February 11th. Dolby Laboratories’s payout ratio is 48.53%.

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.