Northwest & Ethical Investments L.P. Cuts Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Northwest & Ethical Investments L.P. reduced its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 23.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 74,499 shares of the electronics maker’s stock after selling 23,280 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Dolby Laboratories were worth $5,818,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DLB. Bank of New York Mellon Corp increased its position in shares of Dolby Laboratories by 64.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock valued at $376,948,000 after purchasing an additional 1,887,518 shares during the last quarter. Clifford Capital Partners LLC increased its position in shares of 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 valued at $20,707,000 after purchasing an additional 262,162 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of 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 valued at $8,123,000 after purchasing an additional 104,419 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Dolby Laboratories by 496.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock valued at $7,823,000 after purchasing an additional 85,093 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its position in shares of Dolby Laboratories by 4.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after purchasing an additional 63,589 shares during the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the sale, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Andrew Sherman sold 40,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 62,397 shares of the company’s stock, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,121 shares of company stock worth $5,501,324 in the last 90 days. Company insiders own 38.39% of the company’s stock.

Analyst Ratings Changes

DLB has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Rosenblatt Securities restated a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, Barrington Research restated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, February 13th.

Dolby Laboratories Trading Down 0.8 %

Shares of Dolby Laboratories stock opened at $81.88 on Friday. The company has a fifty day simple moving average of $82.07 and a 200-day simple moving average of $77.72. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 30.10 and a beta of 1.01.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is currently 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.