Verition Fund Management LLC Invests $997,000 in Dolby Laboratories, Inc. (NYSE:DLB)

Verition Fund Management LLC purchased a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,033 shares of the electronics maker's stock, valued at approximately $997,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Trust Walden Corp lifted its position in shares of Dolby Laboratories by 185.3% during the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker's stock worth $82,276,000 after purchasing 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 buying an additional 262,162 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Dolby Laboratories by 39.8% during the second quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker's stock valued at $51,698,000 after acquiring an additional 185,884 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Dolby Laboratories by 27.0% during the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker's stock worth $62,817,000 after acquiring an additional 168,744 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Dolby Laboratories by 16.2% during the second quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker's stock worth $49,690,000 after acquiring an additional 87,298 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DLB. Barrington Research restated an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Wednesday, November 20th. StockNews.com raised shares of Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, December 4th. Finally, Rosenblatt Securities upped their price target on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, November 20th.

Dolby Laboratories Trading Up 0.3 %

Dolby Laboratories stock traded up $0.22 during midday trading on Monday, hitting $79.38. The stock had a trading volume of 650,139 shares, compared to its average volume of 411,386. The business has a fifty day moving average price of $75.56 and a 200 day moving average price of $75.74. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $90.06. The stock has a market cap of $7.58 billion, a P/E ratio of 29.29 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.33 per share. This is a positive change from Dolby Laboratories's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, December 3rd. Dolby Laboratories's dividend payout ratio is currently 48.71%.

Insider Buying and Selling

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the completion of the transaction, the chief executive officer now directly owns 83,721 shares in the company, valued at $6,205,400.52. This represents a 25.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ryan Nicholson sold 10,500 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total value of $841,890.00. Following the completion of the sale, the chief accounting officer now directly owns 24,364 shares in the company, valued at $1,953,505.52. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 152,091 shares of company stock worth $12,027,697 over the last ninety days. 39.54% of the stock is owned by insiders.

Dolby Laboratories 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.