AGF Management Ltd. Trims Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

AGF Management Ltd. decreased its position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 25.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,398 shares of the electronics maker's stock after selling 11,022 shares during the period. AGF Management Ltd.'s holdings in Dolby Laboratories were worth $2,530,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DLB. Bank of New York Mellon Corp grew its position in shares of Dolby Laboratories by 64.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock worth $376,948,000 after buying an additional 1,887,518 shares in the last quarter. State Street Corp lifted its stake in Dolby Laboratories by 1.5% in the third quarter. State Street Corp now owns 1,931,586 shares of the electronics maker's stock worth $147,824,000 after acquiring an additional 29,289 shares during the period. Geode Capital Management LLC grew its holdings in Dolby Laboratories by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker's stock worth $117,767,000 after acquiring an additional 63,293 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its position in Dolby Laboratories by 4.5% during 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 period. Finally, Boston Trust Walden Corp raised its holdings in shares of Dolby Laboratories by 0.9% in the 4th quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker's stock valued at $84,715,000 after purchasing an additional 9,624 shares in the last quarter. Institutional investors own 58.56% of the company's stock.

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Insider Activity

In related news, EVP Mark Andrew Sherman sold 40,000 shares of the company's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value 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 $5,296,257.36. This represents a 39.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total value of $588,490.00. Following the sale, the chief accounting officer now directly owns 29,758 shares of the company's stock, valued at approximately $2,501,755.06. This represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,459 shares of company stock worth $6,464,675 over the last 90 days. 38.39% of the stock is currently owned by corporate insiders.

Dolby Laboratories Stock Performance

NYSE:DLB traded up $0.22 during midday trading on Monday, reaching $82.15. 438,821 shares of the stock traded hands, compared to its average volume of 413,468. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The business has a 50-day moving average of $81.69 and a two-hundred day moving average of $77.51. The stock has a market capitalization of $7.84 billion, a PE ratio of 30.20 and a beta of 1.01.

Dolby Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DLB. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. Barrington Research reissued an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, February 13th. Finally, StockNews.com downgraded Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st.

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.