Securian Asset Management Inc. Lowers Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Securian Asset Management Inc. cut its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,511 shares of the electronics maker’s stock after selling 128 shares during the quarter. Securian Asset Management Inc.’s holdings in Dolby Laboratories were worth $352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp grew its holdings in Dolby Laboratories by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 163 shares during the period. Nisa Investment Advisors LLC grew its holdings in Dolby Laboratories by 436.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 301 shares during the period. Mather Group LLC. grew its holdings in Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 142 shares during the period. First Horizon Advisors Inc. grew its holdings in Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 146 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock valued at $61,000 after purchasing an additional 525 shares during the period. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Mark Andrew Sherman sold 40,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the transaction, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. The trade was a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Ryan Nicholson sold 7,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the transaction, the chief accounting officer now directly owns 29,758 shares in the company, valued at approximately $2,501,755.06. The trade was a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,121 shares of company stock worth $5,501,324 over the last ninety days. 38.39% of the stock is owned by company insiders.

Dolby Laboratories Stock Up 0.1 %

DLB opened at $82.22 on Wednesday. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The company has a 50 day moving average of $81.86 and a two-hundred day moving average of $77.66. The company has a market cap of $7.85 billion, a P/E ratio of 30.23 and a beta of 1.01.

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.61%. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DLB shares. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a 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 reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th.

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.